The European Union and Taiwan will upgrade their trade and investment relation, primarily to safeguard supply chain security in the vital field of semiconductors, Nikkei Asia reported on Wednesday, citing a diplomat with knowledge of the matter.
Before and in line with the report, Valdis Dombrovskis, the EU Trade Commissioner, told the European Parliament that the bloc would upgrade the bilateral dialogue with Taipei, scheduled for Thursday, from technocratic to director-general and ministerial level.
Meanwhile, Nikkei's source confirmed the above, adding that the dialogue and its structure remain as planned. Besides, he also mentioned that "it makes sense for the EU to focus on semiconductors and let the principals [from Taiwan's government and the EU] talk."
