The Taiwan-Germany Joint Business Council Meeting has been hosted for 34 years and is an important platform for bilateral economic and trade departments for industries to exchange ideas. The meeting focused on carbon neutrality and net-zero carbon emissions this time. Through the exchange of industry experts from both sides, we hope to create new business opportunities for energy saving and carbon reduction in Taiwan and Germany.
Dr. Franziska Brantner, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action, and Mr. Chern-Chyi "C.C." Chen, Taiwan Deputy Minister, Ministry of Economic Affairs, also held a dialogue on Germany-Taiwan economic and trade policies for the first time at this forum. The two officials not only discussed the recent international situation, but also explored cooperation opportunities in areas such as renewable energy, circular economy, semiconductor, and electric vehicle supply chain.
The two Deputy Ministers also listened to the suggestions of the industry from both sides and exchanged views on the general investment environment, electric vehicles, intelligent machinery, and renewable energy.
According to the German Trade Office Taipei's 2021 German Business Confidence Survey, 61.3% of German businessmen in Taiwan expect Taiwan's economy to continue to grow in 2022. At the meeting, Mr. Chen said that the Ministry of Economic Affairs of Taiwan attaches great importance to the suggestions of foreign businessmen and will strive to create a more friendly investment environment and welcome them to continue to increase their investment in Taiwan and deepen bilateral cooperation.
Germany is Taiwan's largest trading partner in the European Union and the third largest source of foreign investment, with bilateral trade between Taiwan and Germany reaching US$20.7 billion in 2021. As of June 2022, Germany has invested a total of US$4.48 billion in Taiwan, mainly in machinery and tools, electronics and computers, energy, and automotive industries.