The 2024 Taiwan Expo in Europe opened today, featuring over 100 Taiwanese companies targeting business opportunities deriving from the EU's digital and green transformation. The organizer, Taiwan External Trade Development Council (TAITRA), estimates that business opportunities could exceed USD50 million. Director-General Cynthia Kiang of the Taiwan International Trade Administration stated that Taiwanese companies play an important role in the AI industry, and TSMC's establishment of a plant in Germany will further deepen Taiwan-Germany cooperation in R&D, academia, and the supply chain.

This year marks the 7th Taiwan Expo, and it is being held in Europe for the first time. Attendees at the opening ceremony included TAITRA Chairman James Huang, International Trade Administration Director-General Cynthia Kiang, Mr. Jakub Boratynski, director of Network and Governance at the European Commission's Department for Growth, and Dr. Marcus Faber, a member of the German Bundestag and chairman of the German-Taiwan Association.

James Huang pointed out that Germany is the largest economy in Europe and holds extraordinary importance for Taiwan in terms of industry, technology, and trade. Berlin, the capital of Germany with significant political and economic status, is also a hub for European innovation industries and cultural arts. Moreover, its pivotal location in Europe and convenient transportation helps attract participants from throughout the region.

Regarding business opportunities, James Huang stated that based on experiences from holding Taiwan Expos in Southeast Asia, each event generates approximately USD50 million in business opportunities. This time, the Taiwan Expo in Europe focuses on EU digital and green transformation opportunities, and is expected to outperform the Taiwan Expos in Southeast Asia in terms of business opportunities.

Cynthia Kiang mentioned that Taiwan-Germany bilateral trade has exceeded USD20 billion in the past three years as relations continue to deepen and grow. Major European companies like ASML and Merck have also established bases in Taiwan. With TSMC setting up a plant in Dresden, Taiwan and Germany will commence significant cooperation covering semiconductor R&D, equipment supply chain, and talent cultivation.

Taiwan's representative to Germany, Shieh Jhy-Wey, explained the acronym TRADE as a key term, with T representing Taiwan and De representing Deutschland (Germany), and the middle RA standing for "really amazing," symbolizing the promising development of Taiwan-Germany economic and trade relations.

In their speeches, German representatives highlighted the importance of TSMC's establishment of a plant in Germany to the European semiconductor industry. Dr. Marcus Faber stated that regional security and the semiconductor industry are the two key issues Germany focuses on regarding Taiwan. Mr. Jakub Boratynski pointed out that Taiwan and Germany share the same values, and cooperation with Taiwan's semiconductor industry can help Europe achieve its goal of self-sufficiency in the semiconductor industry.

According to trade data, the total value of Taiwan-Germany trade in 2023 was approximately USD22.03 billion, making Germany Taiwan's 8th largest trading partner globally, 10th largest export market, and 6th largest import source.

Source: Money UDN