TAIPEI (Taiwan News) — Taiwan held its first high-level economic meeting with France on Tuesday (March 26).

Led by Minister of Economic Affairs Wang Mei-hua (王美花), the meeting covered AI, semiconductors, renewable energy, and supply chains, reported CNA.

The Ministry of Economic Affairs (MOEA) said in a press release issued on Wednesday (March 27) that both Taiwan and France considered this meeting highly significant. “Minister Wang said during the meeting that under the French government’s ‘France 2030’ plan to strengthen the resilience of key industries, Taiwan and France have opportunities for deepening cooperation in areas such as AI, communications technology, and transitioning to net-zero emissions,” the ministry said.

“In terms of electric vehicles, Taiwan has the capability for the development and manufacturing of electric vehicle components,” the MOEA said. “In addition to connecting upstream material suppliers and downstream module manufacturers and automakers in Taiwan and Europe, this initiative will ensure a reliable supply of electric vehicle batteries,” it added.

Wang also visited Taiwan’s Synology branch in France as well as the European satellite communications group Eutelsat. She also held a meeting with French businesses to share Taiwan’s current industrial policies and explore cooperation opportunities between Taiwan and France.

“In 2023, the bilateral trade volume between Taiwan and France reached US$6.09 billion (NT$195 billion), a new high since 1998,” the MOEA said. “In terms of investment, the amount invested by Taiwanese businesses in France reached US$720 million in 2023, and the amount invested by French businessmen in Taiwan will also reach US$230 million,” the ministry reported.

“We thank France’s repeated emphasis on the importance of peace and stability in the Taiwan Strait in various multilateral and bilateral forums,” the MOEA said. “Both sides are committed to working together to create a secure, open, and resilient supply chain.”