MOEA Deputy Minister Tseng Wen-sheng (right) and AOT Rep. Gary Cowan are all smiles as they display the renewed MOU on bilateral energy cooperation Nov. 12 in Taipei City. (Courtesy of MOEA)
The 25th Taiwan-Australia Joint Energy and Minerals, Trade and Investment Cooperation Consultations was held Nov. 12 via videoconference, reflecting the like-minded partners’ commitment to bolstering mutually beneficial ties, according to the Ministry of Economic Affairs.
During the one-day event, MOEA Deputy Minister Tseng Wen-sheng and Sean Sullivan, deputy secretary at Australia’s Department of Industry, Science, Energy and Resources, discussed their respective governments’ policy platforms with a focus on expanding collaboration and promoting clean and renewable energy sources.
A total of 69 representatives from the academic, business and public sectors took part in the virtual event, including Australian Office in Taipei Rep. Gary Cowan. The Taiwan delegation brought its counterparts up to speed on the country’s energy transformation, while the Australian side discussed Canberra’s responses to devastating wildfires and COVID-19.
Both parties also renewed a five-year memorandum of understanding on bilateral energy cooperation. Originally signed at the 16th edition of the consultations in 2010, the agreement seeks to enhance energy security; facilitate exploration, investment and trade opportunities; foster technological development and talent cultivation; and spur energy diversification.
First held in 1993, the consultations are the primary platform for Taiwan and Australia to initiate bilateral and multilateral projects in the energy and minerals sectors, according to the MOEA.
Ministry of Finance statistics reveal total trade between the two sides grew 3.36 percent to US$13.38 billion in 2019, with Australia now ranking as Taiwan’s 11th largest trading partner, 15th largest export destination and sixth largest source of imports. (SFC-E)