Lord Mayor of London advocates strong partnership with Taiwan

The Lord Mayor of the City of London, Fiona Woolf, arrived in Taipei on 14 January for a two-day visit to enhance trade co-operation between the UK and Taiwan.

On 15 January she delivered a speech to members of the British and American Chambers of Commerce in Taipei, in which she referred to the UK’s recent efforts in increasing export volumes and promoting British brands around the world. Woolf also urged Taiwan to loosen the restrictions in its financial services sector with the intention of making Taiwan a center for offshore RMB denominated business. Taiwan should make use of its large RMB deposits, while the UK can provide a lot of financial service products, Woolf said.

The Lord Mayor also met President Ma Ying-jeou and later described him as “animated on the subject of energy”. Woolf recognized the handicap of Taiwan as its government strives to make it a free economic island, but whose energy demands rely heavily on imports from countries without formal diplomatic ties. Nevertheless, she felt very optimistic about Taiwan’s trade future, since Taiwan provides a route to mainland China, and “can serve as a particularly attractive alternative to Hong Kong.”

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