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Taiwan-Czech Economic Consultation achieves encouraging outcomes on enhancing cooperation The 5th Economic Consultation between the Czech Republic and Taiwan was held in Prague on Oct. 25, 2021, and was co-chaired by Deputy Minister of Economic Affairs Chern-Chyi “C.C.” Chen and Czech Deputy Minister of Industry and Trade Martina Tauberova. In her opening speech, Deputy Minister Tauberova noted that due the COVID-19 pandemic, many economic and trade interactions between Taiwan and the Czech Republic have shifted online in the past year. She expressed the hope that looking ahead, bilateral exchanges and cooperation could be enhanced in a wide range of areas such as startup development, R&D, and the electrical and electronics and space sectors, which is in line with the European Green Deal and the EU’s digital transformation goals. She further stated that the Czech Republic will work to decentralize its supply chain with the aim of strengthening its resilience in the post-pandemic era, as well as strive to overcome the challenges of industrial and energy decarbonization and boost the nation’s competitiveness, adding that she looks forward to the Czech Republic enhancing economic and trade cooperation with its like-minded partner Taiwan. Deputy Minister Chen pointed out in his opening remarks that the holding of the Economic Consultation demonstrates the value that both sides place on enhancing boosting economic cooperation with each other, as well as illustrates that there is much room for expanding bilateral trade, investment and industrial cooperation. He also pointed out the benefits that a Taiwan-EU bilateral investment accord would bring and urged the Czech Republic to use its influence at the helm of the EU’s rotating presidency in the second half of 2022 to push for the launch of negotiations toward such an accord based on the shared values of democracy, freedom and open markets between the two sides. The two sides have actively implemented a range of cooperative initiatives launched through this dialogue platform, including in areas related to trade, investment, industrial technology, innovative R&D, and so on. During the period of this year’s conference, the two sides signed four cooperation memorandums of understanding on smart machinery, green energy, catalytic materials and cybersecurity. They also agreed to pursue enhanced collaboration in the fields of electric vehicles, new innovation and smart city development, and discussed potential cooperation in areas such as tourism promotion, the space industry, and the establishment of Taiwan bank representative offices in the Czech Republic.

Update: 2021-10-26
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