UK and Taiwan Enhanced Trade Partnership arrangement

Taiwan and the UK have concluded an ETP that aims to to strengthen bilateral trade and investment relations, address trade barriers, promote global best practices, support efforts to combat climate change, and enhance cooperation at both bilateral and multilateral levels. The ETP focuses on specific priority areas, termed „pillars,“ which include Investment, Digital Trade, and Renewable Energy and Net Zero, with each pillar having a separate arrangement.
In the Investment pillar, the participants aim to bolster Taiwanese and UK leadership in supporting sustainable and responsible investment globally. This involves reaffirming existing multilateral instruments, protecting investors and businesses from unfair competition, and exploring opportunities for two-way investment facilitation and promotion.
The Digital Trade pillar involves collaboration on areas of joint interest related to digital trade, including technologies that facilitate trade and addressing barriers faced by businesses. Shared principles underpinning digital trade are considered, emphasizing a modern and liberal trading environment, supporting innovation, open markets, and the global rules-based trading system.
The Renewable Energy and Net Zero pillar focuses on driving decarbonization through trade to support meeting net-zero targets. Collaboration includes developing energy infrastructure, supporting offshore wind deployment in Taiwan, improving health and safety implementation, and working bilaterally to build a circular economy, develop skills, and share best practices.
Participants may consider additional pillars that contribute to the objectives and are of mutual interest without infringing on existing commitments. Information sharing is allowed for ETP purposes, subject to usage and disclosure provisions, intellectual property brought by a participant remains its property, and any arising rights are handled according to domestic laws and specific arrangements.
The ETP does not financially commit either participant to support activities under its provisions. Disagreements regarding interpretation or application are to be settled amicably through consultation and negotiation, avoiding involvement of third parties. Regular meetings will be held to track progress, review, and coordinate ETP implementation, promoting engagement between Taiwanese and UK businesses.
The ETP comes into operation upon signature and continues until terminated, with amendments possible through mutual consent, either participant may terminate the ETP with a 90-day written notice.