• Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

World Elder Abuse Awareness Day

June 13, 2025

Costco to Restore Key Benefit for Executive Members at Select Stores

June 13, 2025

6 Tips for How to Follow up on a Job Application (With Examples)

June 13, 2025
Facebook Twitter Instagram
Trending
  • World Elder Abuse Awareness Day
  • Costco to Restore Key Benefit for Executive Members at Select Stores
  • 6 Tips for How to Follow up on a Job Application (With Examples)
  • What’s the Highest Paid Hourly Position at Walmart?
  • Mattel, OpenAI Sign Deal to Bring ChatGPT to ‘Iconic’ Toys
  • Google, Spotify Down in a Massive Outage Affecting Thousands
  • Here’s Why You Should Be Wary Of 401(k) Crypto Options
  • Why This Year’s Summer Sales Might Be a Let-Down
Friday, June 13
Facebook Twitter Instagram
FintechoPro
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
FintechoPro
Home » Taiwan pitches deeper Europe engagement after TSMC Germany investment
Investing

Taiwan pitches deeper Europe engagement after TSMC Germany investment

News RoomBy News RoomAugust 9, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

© Reuters. FILE PHOTO: People attend the opening of TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. REUTERS/Ann Wang/File Photo

By Ben Blanchard

TAIPEI (Reuters) – Taiwan chipmaker TSMC’s 3.5 billion euros ($3.83 billion) investment in Germany will drive deeper engagement between the island and Europe, Taiwan’s economy minister said on Wednesday, pitching the political benefits of the deal.

For Taiwan, under increasing pressure from Beijing to accept China’s sovereignty claims over the island, the investment in a new factory is a show of goodwill towards Europe, even as the European Union has shown no desire to proceed with a Bilateral Investment Agreement, or BIA, Taipei has long hoped for.

“TSMC’s investment in Europe will help bring even closer cooperation between Taiwan and the EU,” Taiwan Economy Minister Wang Mei-hua told reporters in Taipei, when asked if signing the BIA would get more Taiwanese chipmakers to the bloc.

“Just like how Taiwan and the United States are continuing to strengthen cooperation, like the ’21st Century’ trade initiative and double tax avoidance, TSMC going to Europe will certainly strengthen bilateral relations in the future,” she added, referring to a recently signed trade deal with Washington.

Taiwanese officials, while pointing out TSMC’s investments are a company decision, have also said that European countries should strengthen ties with Taiwan if they want continued semiconductor cooperation.

Taiwan has repeatedly called for progress on a BIA with the European Union. The EU included Taiwan on its list of trade partners for a potential bilateral investment agreement in 2015, but it has not held talks with Taiwan on the issue since.

A BIA would be politically significant for Taiwan given its diplomatic isolation and general exclusion from most global bodies and agreements, though it is a World Trade Organisation member.

The TSMC investment in Germany will need approval by Taiwan’s economy ministry, and Wang said they will also consider the company’s “vigorous” investments at home when weighing the German plans.

A source familiar with the German talks told Reuters that approval was likely not a problem given that the plant will be making less advanced chips for the auto industry, rather than higher-end, more profitable chips for things like artificial intelligence applications.

“It will free space in Taiwan to make more valuable chips,” the source said, requesting anonymity as they were not authorised to speak to the media.

TSMC’s overseas expansion, which includes new factories in the United States and Japan, has sparked concerns in Taiwan, where semiconductor manufacturing is the backbone of the economy, about a “goodbye to Taiwan” trend among chip firms.

Wang said that TSMC has repeatedly said its most advanced manufacturing and research would continue to be rooted in Taiwan, but that more chip production overseas was part of a global trend about giving greater resilience to supply chains.

“This is unavoidable,” she added.

Read the full article here

Featured
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Costco to Restore Key Benefit for Executive Members at Select Stores

Burrow June 13, 2025

6 Tips for How to Follow up on a Job Application (With Examples)

Make Money June 13, 2025

What’s the Highest Paid Hourly Position at Walmart?

Make Money June 12, 2025

Mattel, OpenAI Sign Deal to Bring ChatGPT to ‘Iconic’ Toys

Make Money June 12, 2025

Google, Spotify Down in a Massive Outage Affecting Thousands

Make Money June 12, 2025

Why This Year’s Summer Sales Might Be a Let-Down

Burrow June 12, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

Costco to Restore Key Benefit for Executive Members at Select Stores

June 13, 20250 Views

6 Tips for How to Follow up on a Job Application (With Examples)

June 13, 20250 Views

What’s the Highest Paid Hourly Position at Walmart?

June 12, 20250 Views

Mattel, OpenAI Sign Deal to Bring ChatGPT to ‘Iconic’ Toys

June 12, 20250 Views
Don't Miss

Google, Spotify Down in a Massive Outage Affecting Thousands

By News RoomJune 12, 2025

Google Cloud and Spotify are down for tens of thousands of users, according to Downdetector.com.…

Here’s Why You Should Be Wary Of 401(k) Crypto Options

June 12, 2025

Why This Year’s Summer Sales Might Be a Let-Down

June 12, 2025

15 Companies Hiring for International Remote Jobs

June 12, 2025
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 FintechoPro. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.