UK, Taiwan Discuss Forming Stronger Trade Ties

The United Kingdom and Taiwan pledged during virtual talks last week to build stronger trade ties and agreed to continue discussing removing barriers in the agricultural and pharmaceutical sectors, the U.K. said Oct. 26. The U.K.’s Department for International Trade said it made “progress” on market access for U.K. lamb in Taiwan and aims to “resolve [other] market access issues between our economies.”

U.K. Trade Policy Minister Greg Hands said Taiwan “offers huge opportunities for UK businesses” and said the two sides made progress “in a range of sectors including financial services, offshore wind, agriculture and pharmaceuticals.” Taiwan Deputy Minister of Economic Affairs Chen Chern-Chyi said the country is seeking stronger trade ties with foreign allies in response to the “escalating tension of the US-China trade conflict.” The U.K. is “one of Taiwan’s major trading partners. After the UK’s [European Union] Exit, the UK will develop its own independent trade policies, which is an opportunity for both Taiwan and the UK to deepen the partnership,” Chen said.