The 11th Poland-Taiwan Economic Consultations was held in Warsaw on June 20, 23, with the two sides discussing a range of issues, including bilateral cooperation on trade, investment, energy, semiconductor supply chain, cybersecurity, innovative products and technologies, and other areas.
During the meeting co-chaired by Deputy Minister of Economic Affairs Chern-Chyi "C.C."Chen and Polish Secretary of State for Economic Development and Technology Grzegorz Piechowiak, the two sides signed memorandums of understanding on cooperation in the key sectors of hydrogen energy and electric vehicles.
In his opening speech, Deputy Minister Chen noted that Taiwan and Poland have similar levels of industrial development and both have specialized research institutions to support the development of national core technologies, saying that he is happy to see the two sides engage in cooperation on talent cultivation in key industries.
Deputy Minister Chen also outlined Taiwan's industrial, trade and energy policies, as well as the outlook for bilateral economic and trade cooperation with Poland.
He explained that Taiwan has utilized its high-tech advantages to establish a key position in the global supply chain, and in response to international economic and trade changes, strengthen cooperation with democratic partners in order to diversify markets and boost supply chain resilience.
He said Taiwan looks forward to enhancing collaboration with Poland in key sectors such as hydrogen power and circular economy and expressed the hope that Poland will support efforts to launch talks toward signing a Taiwan-EU bilateral investment accord which would generate significant mutual benefits.
Meanwhile, Secretary of Stater Piechowiak affirmed the importance of the bilateral Economic Consultations dialogue mechanism and said that economic and trade ties between the two sides have been growing closer, noting for example that two-way trade reached US$1.72 billion in 2022, up by 4.2% year on year.
He said that interactions between enterprises of the two sides are expected to increase in the post-pandemic period, adding that Poland is ready to work with Taiwan on building a more resilient supply chain and wants to strengthen cooperation with Taiwan in the high-tech sector. He stressed that Poland is the largest market in Central and Eastern Europe and a safe investment environment.
The Secretary of State further stated that in the wake of launching cooperation with South Korea, Japan and other Asian countries in the field of energy, Poland looks forward to establishing a working group with Taiwan to explore bilateral cooperation opportunities in the field of hydrogen power.
Poland has achieved economic growth rates that are among the highest in the EU and possesses a strong industrial base. It is the largest market in Central and Eastern Europe and has become an important base for Taiwanese enterprises operating in Europe. Since the signing of the Taiwan-Poland MOU on Investment Promotion Cooperation in 2018, Taiwanese businesses have invested more than US$25.8 million in Poland, representing growth of 122.8%.