UK exporters will benefit from better access to a key global
market as the UK Trade Minister visits Taiwan for the
27th round of annual UK-Taiwan trade talks [29 – 30 June].
The visit is part of the UK's longstanding unofficial
relationship with Taiwan and aimed at boosting bilateral trade,
worth £9.3 billion in 2024. It comes a week after the Government
announced a new landmark Trade Strategy to secure UK business and
trading relationships in a changing world.
Minister Alexander will reinforce that Britain is open for
business as part of this Government's Plan for Change to deliver
on its core mission to grow the economy and raise living
standards.
Emerging sectors can look forward to modernised trade with Taiwan
thanks to the successful conclusion of the UK-Taiwan digital
trade pilot, swapping out paper-based systems for digital data
exchange to boost efficiency.
The Minister – whose brief covers economic security as well as
trade - will also witness the signing of our Enhanced Trade
Partnership (ETP) Pillars on Investment, Digital Trade, Energy
and Net Zero.
Trade Minister said:
We share a long-standing trade relationship with Taiwan and our
trade reached an all-time high last year, but we know there are
still more opportunities for British businesses to take advantage
of opportunities in this dynamic economy.
The new Enhanced Trade Partnership Pillars will help us boost
trade in some of our growth-driving sectors, delivering economic
growth and helping put more money in people's pockets as part of
the Plan for Change.
Ahead of the Minister's visit, digital trade pilots were
completed with UK wafer company Clas-SIC Wafer Fab as well as the
Kimbland Distillery in Orkney and Scotch company Skene Whiskey as
the UK looks to streamline trade with Taiwan.
Taiwan was the world's 22nd largest economy in 2024 and is a
global leader in growth driving sectors like Digital Tech and
Advanced Manufacturing, creating opportunities that align with
the UK's commercial and strategic strengths.
The Trade talks, which have been held since 1991, along with the
ETP, aim to further enhance trade, investment, and economic
cooperation between the UK and Taiwan.
The visit follows the recent publication of the UK's Trade
Strategy which will see the UK focus on sectors which deliver the
most economic growth.
The Minister will also meet with President Lai as part of the
UK's long-standing unofficial relationship with Taiwan.
The ETP signing will take place between the British
Representative Taipei, Ruth Bradley-Jones, and the Representative
at the Taipei Representative Office, Vincent Chin-Hsiang Yao.
