Taiwan’s economy – economic relations with the EU

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  • Trade turnover with Taiwan represented in 2018. 1.3% of the EU’s total trade turnover.
  • Taiwan is the EU’s 7th trading partner in Asia, while the EU is Taiwan’s 5th trading partner in the world (after China, ASEAN, the US and Japan).
  • EU exports to Taiwan (€20.7 billion) are dominated by: 
    • machinery and equipment (35.5%), 
    • means of transportation (19.5%) 
    • chemical products (17.6%). 
  • Imports from Taiwan (€29.5 billion) are dominated by machinery and equipment (58%) and base metals and base metal products (13.6%). 
  • In services trade, the EU is running a surplus (exports of €4.8 billion vs. imports of €3.1 billion).
  • The EU is the largest foreign direct investor in Taiwan. According to 2018 data, investment projects reached €17.2 billion. EU investment accounts for only about 2% of Taiwan’s FDI.

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Formal and social receptions:  Dress code: Source: Business Etiquette in International Contacts, op. prof. Jerzy Schroeder, Wena, Poznań 2018, https://www.wfr.org.pl/wp-content/uploads/2020/02/Etykieta-biznesu-w-kontaktach-międzynarodowych.pdf

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Making appointments:  Greeting and titling:  Source: Business etiquette in international contacts, op. prof. Jerzy Schroeder, Wena, Poznań 2018, https://www.wfr.org.pl/wp-content/uploads/2020/02/Etykieta-biznesu-w-kontaktach-międzynarodowych.pdf