Gere said that the signing of the FTA will remove all barriers to trade and investment and increase bilateral trade and investment.
Significantly, India does not have formal diplomatic relations with Taiwan, but there are trade relations between the two countries. (signal photo)
Taiwan’s unofficial Ambassador Baushuan Gere said that India and Taiwan should finalize the proposed free trade agreement (FTA) at the earliest, as it will remove all barriers to trade and investment. At the same time, this will help in creating a flexible supply chain. The Taiwanese representative said that his country wants to share its expertise with India in key areas such as semiconductors, 5G, information security and artificial intelligence and that his country can be an excellent partner in developing India’s high technology supply chain. He said that with like-minded business partners including Taiwan, India FTA is actively working on. The Taiwanese representative reiterated his support for a rules-based international order.
Gere said that the signing of the FTA will remove all barriers to trade and investment and increase bilateral trade and investment. Along with this, it will help Taiwanese companies to invest in India to establish a production base, sell Indian made products worldwide and transform India into a global manufacturing hub. His remarks come as China has intensified military aggression against the self-governing island with a population of more than 23 million since US Parliament Speaker Nancy Pelosi’s high-profile visit to Taiwan in August. Anxiety has arisen.
She expressed strong displeasure over Pelosi’s visit to Taiwan
In fact, China claims Taiwan as its share and expressed strong displeasure over Pelosi’s visit to Taiwan. Taiwan is the world’s leading producer of semiconductors and some Taiwanese companies have shown interest in India’s Rs 76,000-crore Production Linked Incentive (PLI) scheme for the electronics sector. “The time has come for Taiwan and India to consider signing an FTA as soon as possible to build a secure and resilient supply chain,” Gere said.
trade relations between the two countries
Significantly, India does not have formal diplomatic relations with Taiwan, but there are trade relations between the two countries. New Delhi established the India-Taipei Association (ITA) in 1995 in Taipei to promote dialogue between the two sides. The Taiwanese envoy said that given the changing international political and economic scenario, India has the opportunity to play a more important role in the transformation of the supply chain. He said Taiwan has extensive supply chains and ecosystems in the manufacturing sector, including semiconductors, and that closer trade cooperation would be beneficial to both sides.
Taiwan has been supportive of a rules-based international order
Gere said Taiwan has advantages in semiconductor and electronic manufacturing, including US-accredited 5G, clean network technology, as well as artificial intelligence, information security and smart city technology. He said Taiwan can be an excellent partner for India’s hi-tech supply chain and product development. Gere said that as a defender of democracy, Taiwan has been supportive of a rules-based international order.
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