This is the first European Parliament report dedicated to the EU’s relations with Taiwan, and it is both important and timely. I believe it embodies a very balanced approach, and one that seeks to be proactive rather than provocative.

There has always been a tacit understanding that the Bilateral Investment Agreement with Taiwan would follow once the China Agreement on Investment had been concluded. This was before the unprecedented move by China to impose unwarranted sanctions, not least against members of this Parliament, and we are now unable to proceed until this issue has been resolved.

Therefore, there is a strong and convincing argument in favour of reassessing this time-schedule, and of opening negotiations on a Bilateral Investment Agreement with Taiwan sooner rather than later.

This is important and timely as the EU aims to improve supply chain resilience for semi-conductors, which are critical to achieving our digital transition goals. As Taiwan will be investing in new manufacturing plants in the United States, we need to create the necessary framework and conditions to facilitate similar investments in the EU. The Bilateral Investment Agreement with Taiwan is clearly a step in the right direction on the path to Europe’s strategic autonomy.