TAIPEI (TVBS News) — Taiwan signed a historic Enhanced Trade Partnership (ETP) with Britain on Wednesday (Nov. 8), representing a significant step forward in the nation's diplomatic and economic relations.
The agreement was signed by the British Representative to Taiwan, John Dennis, and Taiwan's Representative to the United Kingdom, Kelly Hsieh.
This is the first time Taiwan has sealed such a trade agreement with a European country.
According to John Deng, a Minister without Portfolio under the Executive Yuan's Office of Trade Negotiations, the initial negotiations will focus on digital trade, investment, renewable energy, and net-zero carbon emissions. Future agenda items may include trade facilitation, anti-corruption initiatives, and service industry management, similar to Taiwan-U.S. discussions.
Taiwan holds the distinction of being the first country in the Indo-Pacific region to sign an ETP deal with the UK, while India and Thailand are still in negotiations.
Deng could not predict the growth potential of this agreement in the long run but expressed sheer optimism about how this deal might grow, symbolizing enhanced Taiwan-UK relations and serving as a role model for other nations.
Highlighting the magnitude of enhancing trade relations with the UK, the world's sixth-largest economy, Deng reiterated the importance of the deal, especially in light of the UK's entrance into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which may have significant implications for Taiwan's prospective membership.
