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Taiwan-Poland Economic Consultations achieves positive outcomes
Organization: Department of International Cooperation        Publish Date: 2018-09-11 18:39
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The 8th Taiwan-Poland Economic Consultations was held at the Ministry of Economic Affairs (MOEA) on Sept. 11, 2018, with the two sides exchanging views on various issues, including bilateral trade and investment as well as cooperation in the fields of smart machinery, biotech pharmaceuticals, green energy, research and innovation, start-ups, circular economy, finance, and smart city development.

The meeting, co-chaired by MOEA Deputy Minister Mr. Ming-Hsin Kung and Polish Deputy Minister of Entrepreneurship and Technology, Mr. Tadeusz Koscinski, achieved fruitful outcomes. The two sides agreed to launch a range of cooperative initiatives, including with respect to renewable energy technology development and waste electrical and electronic equipment recycling technology exchanges.

In addition, the Polish Center for Technology Development (PORT) and Taiwan's Industrial Technology Research Institute (ITRI) also reached preliminary consensus on working together to explore potential collaborative research projects.

Also of note, InvesTaiwan and Polish Investment and Trade Agency (PAIH), formally launching its new office in Taipei later the same day, signed a Memorandum of Understanding on Investment Promotion after the Consultations, which is expected to facilitate greater bilateral investment.

In his opening remarks, Minister Kung stated that the Economic Consultations, which has been held annually since the first gathering in Warsaw in 2010, serves an important and effective dialogue mechanism for dealing with issues of common concern and for promoting closer mutually-beneficial commercial, trade, investment and industry ties between Poland and Taiwan.

The minister also mentioned Taiwan's "five plus two" innovative industries program aimed at fostering the development of the green energy, smart machinery, defense, biotech pharmaceutical, and IoT sectors, as well as new agriculture and circular economy. Given Poland's and Taiwan's complementary advantages, there are many exciting new opportunities for mutually-beneficial engagement between the private and public sectors of the two sides in these emerging industries, he added.

For his part, Deputy Minister Koscinski stated that the opportunities for cooperation between Taiwan and Poland are significant, and that is why his government is committed to supporting mutually beneficial business relations between the two sides. New initiatives such as between PORT and ITRI and the launch of the new PAIH office in Taipei will help to further enhance collaboration in innovative sectors as well as foster stronger trade and investment ties between the two sides, he said.

Poland, which enjoys a strategic geographical position at the heart of Europe and a strong industrial manufacturing base, has registered steady economic growth in recent years. In 2017, the country's gross domestic product ranked 1st among Central European nations and 24th globally. Poland's GDP growth for the year reached 4.6 percent, among the highest rates in the EU.

More than 30 Taiwanese companies have set up business and production operations in Poland. These investments have been mainly in the electrical and electronic, information communications technology, and automobile and automotive parts sectors.
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Update: 2018-09-25MNS2