Risking China backlash, Taiwan and Britain push ahead with free trade talks
- Taiwan and Britain are looking to their deepen trade relationship, but opposition from China remains a major hurdle
- Recent trade talks focused on access for British lamb exports, ways to boost cooperation in financial services and offshore wind power
Taiwan and Britain are pushing ahead with trade negotiations as Taipei looks to reduce its reliance on China and Britain seeks to secure post-Brexit trade deals.
Negotiators from the two sides met for their 22nd round of talks on October 1 in London, where they discussed access for British lamb exports, ways to boost cooperation in financial services, offshore wind power and pharmaceuticals.
Discussions between Taiwan and Britain have occurred almost annually since 1991, but pressure from China over Taiwan’s status as a self-ruled island remains a major stumbling block to a formal free trade deal.
“If Taiwan can sign some official deal with the UK, that’s definitely a political achievement,” said Liang Kuo-yuan, president of the Taipei-based economic think tank Yuanta-Polaris Research Institute. “Even unofficially it would be a political achievement, though it would need to have practical application.”
If Taiwan can sign some official deal with the UK, that’s definitely a political achievement
Beijing, which sees Taiwan as part of China, frowns on countries seeking bilateral free trade deals with Taipei. As a result, the island has signed a free trade deal with just one of its top 10 trading partners, Singapore, meaning its exporters are stung with higher import tariffs than many competitors.