TAIPEI (Reuters) – Taiwan and the European Union should sign an investment agreement to use economics as a way to strengthen their democratic ties, Taiwan President Tsai Ing-wen said on Friday, pitching to revive a deal that has languished since before she took office.
The bloc included tech-powerhouse Taiwan on its list of trade partners for a potential bilateral investment agreement in 2015, the year before Tsai first won the presidency. But since then it has held no talks with Taiwan on the issue.
Speaking in a pre-recorded message to the Copenhagen Democracy Summit, Tsai alluded to autocratic China, which claims Taiwan as its own territory, in describing how her island stands to benefit from the reshaping of global supply chains in the COVID-19 world.
“European and American businesses will be looking for more reliable partners. To them I say, democratic Taiwan, with its respect for the rule of law, human rights and intellectual property, its talented workforce and its strong and trustworthy track record in high-tech industries, welcomes your investment,” she said.
“An investment agreement between Taiwan and the European Union, for example, will be a great first step, one that will align our norms and standards and permit business to flourish, alongside protections accorded to traders and investors,” she said.
“What better way to show the world that democracies are willing to support each other in the face of rising challenges to our values? We should use the power of economics to strengthen our democracies.”
EU member states, and the EU itself, have no formal diplomatic ties with Taiwan due to China’s objections, which considers the island one of its provinces with no right to the trappings of state, so any investment deal could be tricky politically for the EU.
However, the EU has grown increasingly impatient with China on trade, saying Beijing has failed to provide fair access for European firms. Negotiations on a China-EU investment agreement have been underway for six years and may be concluded in 2020.
(Reporting by Ben Blanchard; Editing by Hugh Lawson)
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
