Taipei, Dec. 21 (CNA) Economics Minister Kuo Jyh-huei (郭智輝) returned to Taiwan on Saturday following a trip to Germany and the Czech Republic to promote industrial cooperation, according to the Ministry of Economic Affairs (MOEA).
In a statement, the International Trade Administration (ITA) under the MOEA said Kuo attended the inauguration of the Taiwan Trade and Investment Center in Prague on Thursday.
He also witnessed the signing of a memorandum of understanding (MOU) pledging to set up industrial clusters and promote business opportunities -- in order to boost collaboration between Taiwan and Czechia.
The MOU was signed by Taiwan's representative to Czechia Ke Liang-ruey (柯良叡) and the representative of the Czech Economic and Cultural Office in Taipei David Steinke, according to the ITA.
The statement noted that the trade and investment center in Prague will be Taiwan's first overseas investment service hub. Under the MOU signed on Thursday, the center will enable Taiwan and Czechia to collaborate in providing one-stop services for Taiwanese investors seeking opportunities in the European country.
The ITA added that Czechia has a geographic advantage in Europe, a large pool of tech talent, prestigious research institutions, a sound industrial foundation and solid technology strength.
Moreover, the European country has strong support from its government in technology development. This has led to it becoming one of Taiwan's key European partners in terms of industrial cooperation, the ITA said.
The ITA added that Taipei will use Prague as a hub to seek other business opportunities in the European market.
During his stay in Czechia, Kuo also met with Czech Senate President Miloš Vystrčil, Marek Benda, who is a member of the Czech Parliament's Chamber of Deputies and chairperson of the body's Taiwan friendship group, as well as other Czech government officials to discuss bilateral economic exchanges, the ITA said.
Kuo's visit to Prague was part of his trip to Germany and Czechia on Wednesday and Thursday.
Before Kuo visited the Czech Republic, he went to Dresden in the German state of Saxony. Taiwan Semiconductor Manufacturing Co. started constructing a new 12-inch wafer fab in the city in August, through a joint venture called European Semiconductor Manufacturing Co. (ESMC).
The Dresden plant is scheduled to launch mass production at the end of 2027, focusing on automotive and industrial applications.
The ITA said Kuo also met with Dresden Mayor Dirk Hilbert and the head of the state of Saxony Michael Kretschmer to gain a better understanding of the investment environment. Kuo also called for the Saxony authorities to assist Taiwanese entrepreneurs where necessary.
According to the ITA, Taiwan has long played a critical role in global supply chains and made important contributions to a wide range of tech development.
This, along with Taiwanese semiconductor suppliers extending their global reach, means that many related small and medium-sized Taiwanese are setting their sights on the European market.
