Newly appointed UK Trade Commissioner for APAC visits Taiwan

Introduction

His Majesty’s Trade Commissioner (HMTC) for Asia Pacific, Martin Kent is currently in

Taiwan conducting a 5-day visit to broaden and deepen trade and investment links

between the UK and Taiwan.

Purpose of the Visit

The key purpose of the visit is to meet with Taiwan’s International Trade

Administration of the Ministry of Economic Affairs, to prepare discussion topics for

the 26th annual UK-Taiwan Trade Talks due to take place in London in November. HMTC

will also meet with Deputy Minister of Economic Affairs, Chern-Chyi Chen, who will

co-chair the Trade Talks alongside Nigel Huddleston, the UK’s Minister for

International Trade at the Department for Business and Trade. He will also meet with

Minister without Portfolio and Chief Trade Negotiator, John Deng to continue talks on

the UK-Taiwan Enhanced Trade Partnership (ETP) announced earlier this year.

Meetings and Collaborations

During his visit, HMTC will meet with key representatives of UK businesses in Taiwan

to understand the market opportunities, as well as key Taiwanese companies, including

China Airlines and GlobalWafers to explore collaboration.

UK as an Investment Destination

HMTC will also meet with Taiwan’s Smart Capital Investors’ Club to share more about

the UK as Europe’s most popular investment destination. The UK has long been at the

forefront of global exploration, invention and innovation. World-leading companies

choose the UK as a place to invest, research, manufacture and grow. Global

multinationals have created more subsidiaries in the UK (28,707) than anywhere else,

outside of China and the USA. In November, the UK will host its second Global

Investment Summit, which will bring more than 200 of the world’s highest profile

investors, CEOs and financiers to showcase the UK as a world leading investment

destination.

Trade Relationship between UK and Taiwan

The UK and Taiwan already have a thriving trade relationship based on collaboration in

key areas such as offshore wind. Through this visit and wider engagement we are

broadening this to include new areas in the technology-related sectors, including

semiconductors. The UK has a long and exceptional history attracting foreign direct

investments to its tech sector, which is worth over $1 trillion. It is only the third

country globally to reach this landmark valuation, and has produced more unicorns

than any other European country at over 160. The UK’s startup ecosystem also ranks

the first in Europe and 3rd globally in terms of VC investment raised. There are more

than 180 Taiwanese companies established in the UK.

Trade Statistics

The UK-Taiwan bilateral trade and investment relationship is going from

strength-to-strength with total trade in goods and services reaching £8.6 billion in

2022. Total UK exports to Taiwan in 2022 hit £3.9 billion, with an 18.2%

year-on-year increase in goods exports. Taiwan is now the UK’s 5th largest trading

partner in the Asia Pacific region, and the UK is Taiwan’s 3rd largest trading

partner in Europe.

Statements from Martin Kent and John Dennis

Martin Kent, His Majesty’s Trade Commissioner for Asia Pacific, said:

I look forward to promoting UK-Taiwan trade growth from its

existing bilateral level of £8.6 billion per year using the upcoming Trade Talks

and Enhanced Trade Partnership as a catalyst. I am also prioritising promoting

investment into our world-leading UK clean growth sector, as well as exploring

broader partnerships in science, tech, research and development.

John Dennis, Representative at the British Office Taipei said:

Trade & investment play an enormous part in the bilateral

partnership between the UK and Taiwan, and I am delighted to welcome Martin Kent,

His Majesty’s Trade Commissioner to Taiwan. We have huge momentum to deliver

economic growth for both the UK and Taiwan, and the visit is another testament to

the importance of our partnership to maximise opportunities

SDGs, Targets, and Indicators Analysis

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 8: Decent Work and Economic Growth
• SDG 9: Industry, Innovation, and Infrastructure
• SDG 17: Partnerships for the Goals

The article discusses the visit of the UK Trade Commissioner for Asia Pacific to Taiwan to strengthen trade and investment links between the UK and Taiwan. This aligns with SDG 8, which aims to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. It also relates to SDG 9, which focuses on building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation. Additionally, the visit highlights the importance of partnerships between countries, which is a key aspect of SDG 17.

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% gross domestic product growth per annum in the least developed countries
• Target 9.3: Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets
• Target 17.16: Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources

The article mentions the goal of promoting trade growth between the UK and Taiwan, which aligns with Target 8.1 of SDG 8. The visit also aims to explore partnerships and collaboration in various sectors, including technology-related sectors, which relates to Target 9.3 of SDG 9. Furthermore, the visit itself represents a partnership between the UK and Taiwan, contributing to the overall objective of enhancing the Global Partnership for Sustainable Development mentioned in Target 17.16 of SDG 17.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Trade volume and value between the UK and Taiwan
• Growth rate of bilateral trade between the UK and Taiwan
• Number of UK businesses in Taiwan
• Number of Taiwanese companies established in the UK

The article mentions that the total trade in goods and services between the UK and Taiwan reached £8.6 billion in 2022, with an 18.2% year-on-year increase in goods exports. These figures can be used as indicators to measure progress towards Target 8.1 of SDG 8. The number of UK businesses in Taiwan and Taiwanese companies established in the UK can also serve as indicators to assess the level of partnership and collaboration between the two countries, contributing to Target 17.16 of SDG 17.

SDGs, Targets, and Indicators Table

SDGs	Targets	Indicators
SDG 8: Decent Work and Economic Growth	Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% gross domestic product growth per annum in the least developed countries	Trade volume and value between the UK and Taiwan Growth rate of bilateral trade between the UK and Taiwan
SDG 9: Industry, Innovation, and Infrastructure	Target 9.3: Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets	Number of UK businesses in Taiwan Number of Taiwanese companies established in the UK
SDG 17: Partnerships for the Goals	Target 17.16: Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources	Number of UK businesses in Taiwan Number of Taiwanese companies established in the UK

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: gov.uk

 

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