Avoiding China and Cooperating with the US... Taiwan's Semiconductor Diplomatic Moves

[Image source=Yonhap News]

원본보기 아이콘

[Asia Economy Reporter Cha Min-young] The United States and Taiwan have agreed to strengthen the semiconductor supply chain and cooperate to counter China's economic coercion.

On the 23rd (local time), according to Taiwan Central News Agency, the two sides held the 2nd "Economic Prosperity Partnership Dialogue (EPPD)" online for five hours, discussing four major agendas: supply chain, response to economic pressure, digital economy and 5G network security, and science and technology cooperation.

From the U.S., Jose Fernandez, Deputy Secretary of State for Economic Affairs, led the delegation, while from Taiwan, Wang Mei-hua, Minister of Economic Affairs, and Wu Cheng-chung, Minister of Science and Technology, led their delegation. Both sides agreed to strengthen cooperation related to the semiconductor supply chain to resolve global bottlenecks and to reinforce the supply chain in the long term.

Minister Wang Mei-hua stated regarding the response to economic coercion, "We agreed that no economic system should be subjected to external threats, and that countries with similar ideologies need to continue strengthening cooperation to jointly respond to economic coercion that violates international trade rules."

The U.S. and Taiwan also agreed to hold the 4th Taiwan-U.S. Digital Economy Forum next year under the EPPD framework concerning the digital economy and 5G network security. They will cooperate on 5G network security frameworks and the free flow of information. Additionally, they agreed to hold the 1st Science and Technology Meeting.

Taiwan is considered a key partner in securing the semiconductor supply chain amid the U.S.-China strategic competition. Taiwan's TSMC is the world's largest foundry company, playing a pivotal role in the global semiconductor supply.

After the press conference, Minister Wang Mei-hua told reporters, "The U.S. side mentioned China's pressure on Lithuania and expressed its intention to support the country." Taiwan is building friendly relations with Baltic Sea countries.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.