Taiwan sees ‘enormous’ room for chip cooperation with EU

The EU’s plan mentions Taiwan, dwelling to the world’s largest contract chipmaker TSMC and different main semiconductor corporations, as one of many “like-minded companions” Europe wish to work with.

The plan, unveiled on Tuesday, requires the European Fee to ease funding guidelines for modern semiconductor vegetation, a transfer that comes as a worldwide chip scarcity and provide chain bottlenecks have created havoc for a lot of industries.

Taiwan’s Overseas Ministry mentioned in a press release it was happy to see the sturdy momentum in bilateral commerce and funding between Taiwan and the EU, and welcomed the EU attaching a lot significance to the island.

It’s satisfied that “within the post-pandemic period, Taiwan and the EU have huge room for cooperation within the restructuring of worldwide provide chains reminiscent of semiconductors, industrial restoration, and strengthening of democratic resilience”.

Taiwan will construct on its pleasant relations with the EU to deepen their partnership, the ministry added.

TSMC, which mentioned final month it was nonetheless within the very early phases of assessing a possible fab in Europe, declined to touch upon the European chip laws. TSMC is spending $12 billion on chip factories in the US.

In a single wrinkle for EU ambitions, Taiwan’s GlobalWafers Co Ltd failed this month in a 4.35 billion euro ($5 billion) takeover try of German chip provider Siltronic . learn extra

Neither the EU nor its member states have formal diplomatic relations with Chinese language-claimed Taiwan, however the bloc has been eager to point out its assist for the island, particularly as China-EU ties bitter over commerce and human rights disputes.