TAIPEI (TVBS News) — Taiwan's Vice Minister of Economic Affairs Chen Chern-chyi (陳正祺) remarked on Monday (Nov. 11) that Taiwan Semiconductor Manufacturing Company's (台積電, TSMC) plans to establish a factory in Germany will likely encourage other Taiwanese companies to expand into Europe, urging Germany to provide assistance in this endeavor.
The Taiwan-Germany Joint Business Council convened in Taipei on Monday, where Chen and Udo Philipp, Germany's junior economy minister, co-hosted the meeting. They discussed economic security, supply chain resilience, and potential collaborations in energy, electric vehicles, and semiconductors.
Chen emphasized the growing cooperation between Taiwan and Germany in semiconductors and electric vehicles, noting their discussions on AI and smart robotics during the Taiwan-Germany Smart Machinery Forum (台德智慧機械論壇) in August.
Taiwan's Automotive Research and Testing Center (台灣車輛研究測試中心) signed a memorandum of understanding with Germany's TÜV SÜD in October to establish Southeast Asia's first international standard-compliant autonomous vehicle testing lab in Taiwan.
With TSMC's wafer plant in Dresden breaking ground in August, Chen stated that this move will inspire Taiwanese SMEs to expand into Europe, and he looks forward to Germany's support.
The International Trade Administration highlighted Germany as Taiwan's largest EU trade partner and third-largest foreign investor, with 2023 bilateral trade reaching US$2.2 million and Taiwan's investment in Germany hitting a record US$3.91 billion, primarily due to TSMC's Dresden plant.
