Monday 4 December 2017

UK and Taiwan to strengthen energy sector trade links

UK and Taiwan to strengthen energy sector trade links

The UK and Taiwan are to strengthen trade links in key sectors such as energy.

International Trade Minister Greg Hands and Taiwanese Vice-Minister of Economic Affairs Mei-Hua Wang agreed last week to improve international dialogues in fields like biotechnology and clean power generation.

Trade between the nations grew to £5.35 billion last year and is expected to continue to rise, offering significant opportunities for UK companies.

Taiwan plans to increase its renewable energy production from 4% to 20% of supply by 2025, much of this made up from offshore wind generation.

As a leading offshore wind producer, the UK is poised to be a key partner in assisting this growth.

The UK will also offer its expertise in financing renewable energy projects and developing finance technologies in Taiwan.

Mr Hands said: "Our new trade dialogues in agriculture and energy will offer UK expertise in leading industries and I look forward to continuing to work together closely further deepen our trade and investment links."

Written by

Bruna Pinhoni

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