Taiwan is seeking closer ties with the European Union in exchange for its investment in chip production, according to its foreign minister Joseph Wu. Wu said that Taiwan, a major semiconductor producer, is not selfish in allowing its chip firms, such as Taiwan Semiconductor Manufacturing Co (TSMC), to invest in other countries, but it hopes that those countries can also think about Taiwan’s situation. Taiwan faces constant pressure from China, which claims the island as its own territory and has threatened to use force to bring it under its control.
Wu made his remarks during a visit to Europe last week, where he met with officials from the Czech Republic and Brussels. He said that European countries should strengthen their relations with Taiwan if they want to benefit from its chip expertise and technology. He also urged the EU to consider more cooperation with Taiwan, such as a bilateral investment agreement (BIA), which has been stalled for years due to China’s opposition.
Taiwan’s chip industry is crucial for the global supply chain, especially amid a persistent chip shortage that has affected various sectors, such as automotive and consumer electronics