UK minister to hold talks with Taiwan aimed at ‘boosting trade’

Trade minister Greg Hands will co-host the UK-Taiwan 25th annual Trade Talks in Taipei during his two-day visit.

Trade minister Greg Hands will hold talks on Monday in Taiwan aimed at ‘boosting trade’ (PA) (PA Archive)

Trade minister Greg Hands will hold talks on Monday in Taiwan aimed at “boosting trade” and promoting UK expertise in hydrogen and offshore wind, the Department for International Trade has said.

Mr Hands will meet President Tsai Ing-wen and co-host the UK-Taiwan 25th annual Trade Talks in Taipei during his two-day visit, the first in person trade talks since the pandemic.

Boosting trade with this vital partner is part of the UK’s post-Brexit tilt towards the Indo-Pacific and closer collaboration will help us future-proof our economy in the decades to come

Trade minister Greg Hands

Recalling his visit to the country 31 years ago, Mr Hands said: “Boosting trade with this vital partner is part of the UK’s post-Brexit tilt towards the Indo-Pacific and closer collaboration will help us future-proof our economy in the decades to come.”

Talks with minister Chern-Chyi Chen will look at “tackling barriers to trade in sectors such as fintech, food and drink and pharma, aimed at helping more UK firms export and invest in Taiwan”, DIT said, adding Mr Hands “will also promote UK expertise in offshore wind, hydrogen and electric vehicles”.

The UK’s £8bn trade partnership has risen 14% in the last two years, according to DIT, with UK exports to Taiwan going up by 12% during that period.

Amid the trade talks, Innovate UK, the UK’s national innovation agency, will sign a memorandum of understanding with the Ministry of Economic Affairs in Taiwan, “pledging to increase collaboration on technology and innovation”, the DIT added.