Lord Stephen Green, UK Minister for Trade and Investment, visited Taiwan on 3-4 November to further bilateral trade and investment links.
During the visit, Lord Green supported UK companies keen to participate in renewable and infrastructure projects in Taiwan, led the UK side at the UK-Taiwan bilateral trade talks, and promoted investment opportunities to Taiwanese companies.
The UK is an important bilateral trading partner and major investor in Taiwan. Taiwan is among the UK’s top 40 trade partner worldwide and the UK’s 8th largest trade partner in Asia and Oceania. Bilateral trade in goods between UK and Taiwan amounted to £3.0 billion (NTD142.5 billion) in the first 8 months of this year, up by 22% compared with the same period last year. UK exports to Taiwan increased by 34% while UK imports from Taiwan rose by 18%.
At the trade talks, Lord Green and Deputy Minister of Economic Affairs Sheng-Chung Lin discussed ways to improve the trade and investment environments in the UK and Taiwan, in particular in the pharmaceutical, offshore wind, beverages and financial services sectors.
On 4 Nov, the British Trade & Cultural Office and Bureau of Energy, MOEA co-hosted the “UK-Taiwan offshore wind partnership workshop”, attended by a UK renewable energy delegation. Lord Green said in his opening remarks, “Taiwan has announced it will invest £50billion in establishing a low carbon economy and developing green energy and technology industries. UK businesses have world-class capabilities in energy and resource efficiency, leading green technologies and innovative thinking in climate adaptation. I see huge potential for the UK and Taiwan to establish a partnership for green growth, to seize new opportunities and create new drivers for growth in our economies.”
Lord Green also shared his views on the role of creativity and innovation in shaping the UK, Taiwan and global economy during a speech at an event hosted by BCCT, ECCT and AmCham on 4 Nov.
The UK’s leading position in research and development has been recognised by Taiwanese companies. Lord Green announced that Holy Stone Enterprise, a world leading Multilayer Ceramic Capacitor (MLCC) producer, has chosen the UK again to set up the European Headquarters for its subsidiary Holy Stone Healthcare, after its existing investments in Norwich and Edinburgh.
Holy Stone Healthcare will be in operation from 2012 to manage its medical devices and pharmaceuticals sales and marketing, research and development in Europe. The President of Holy Stone Healthcare Albert Wu explained that the company had chosen to set up in the UK “because it has world-class R&D, creativity and innovation in biotechnology sectors, a fast-growing domestic market and great access to the European market.”
Lord Green’s visit to Taiwan was part of a regional trip, which also included Korea and Japan.
[mappress]
Source: ukintaiwan, November 07, 2011;