The sixth annual trade talk between Taiwan and Finland was held Sept. 28 via videoconference, with the like-minded partners setting out their commitment to bolstering mutually beneficial business and trade ties, according to the Ministry of Economic Affairs Sept. 29.
During this year’s event, MOEA Deputy Minister Chen Chern-chyi and his Finnish counterpart Petri Peltonen discussed issues spanning artificial intelligence, the circular economy, information security, market entry and renewable energy, as well 5G and 6G telecommunication technology.
One highlight was the signing of a memorandum of understanding regarding promotion of bilateral trade, with a focus on strengthening industrial cooperation and assisting firms looking to tap into global business opportunities, the MOEA said.
According to Chen, Finland is a world leader in wireless telecommunication and software development, while Taiwan is known for its manufacturing prowess in ICT and semiconductor parts. The two can leverage their respective strengths to cooperate in potential-laden sectors such as AI, Internet of Things and 5G, he added.
In response, Peltonen praised cooperation between the pair, citing as examples an R&D center set up in 2014 by Taiwan’s fabless chip developer Hsinchu City-headquartered MediaTek Inc., as well as various academic and research projects with National Taiwan University and National Taipei University of Technology.
Ministry of Finance statistics reveal that bilateral trade between Taiwan and Finland totaled US$625.7 million last year. Accumulated investment amounted to US$5.73 million as of July 2020, with major Finnish firms operating in Taiwan including telecommunication heavyweight Nokia and marine power equipment supplier Wartsila Corp. (SFC-E)
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