EU adopts resolution to deepen economic ties with Taiwan

On Thursday, the European Union adopted a resolution to deepen economic ties with Taiwan.

Interestingly, a similar deal with China has been put on hold.

The European Parliament voted 580 to 26 votes, backing a non-binding resolution requesting the European Commission to “urgently begin an impact assessment, public consultation and scoping exercise on a bilateral investment agreement”.

EU lawmakers also demanded that the bloc’s trade office in Taiwan be renamed the European Union office in Taiwan, which in fact upgrades the mission in Taiwan despite the fact that neither the EU or its member states have formal diplomatic ties with Taiwan.

The development comes at a time when China has increased its belligerence against Taiwan with Beijing saying it will be capable of mounting a “full scale” invasion of the island by 2025. Taiwan, a tech powerhouse, has become very attractive for the EU midst a global shortage of chips. Brussels has lobbied hard for key Taiwanese chipmakers to invest in the bloc much like they have done in the US.

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