Bilateral Investment Agreement with Taiwan: Why should the Czech Republic say yes and support it at the EU level?
For many years, the European Commission has hesitated to explore the possibilities of a bilateral investment agreement with Taiwan. Even though Taiwan is one of the most competitive economies in the world, the EU has closed trade deals with almost everyone in the region except Taiwan. As free-trade agreements with South Korea, Japan, Singapore, and Vietnam are being completed, there is still no specific timeframe regarding the launch of negotiations or even an impact assessment for Taiwan.
Apparently, there is still a need to highlight the innovativeness of the Taiwanese economy and the high number of benefits that Taiwan can offer to its trade partners. If the launch of the BIA negotiations was based solely on economic reasoning, the trade deal would have been signed by now.
This paper is building arguments for decision makers in the Czech Republic and the EU to consider while assessing the economic and strategic importance of a BIA with Taiwan. It summarizes the current Czech-Taiwanese trade situation and presents relevant arguments for Czech-Taiwanese trade enhancement under a potential BIA. Furthermore, it presents economic and strategic gains from the European perspective.
