There is a strong cultural and economic relationship between Taiwan and Australia, supported and exemplified:
- by regular bilateral consultations such as the:
- Bilateral Economic Consultations (BEC), the last one was held in May 2011 and next one is expected to be held in Canberra at a date yet to be set, will be later in 2012 (organised by DFAT); and
- Joint Energy and Minerals, Trade and Investment Cooperation Consultations (JEMTIC). The 17th JEMTIC was held on the Gold Coast last year (12-13 August 2011), and the 18th is expected to be held in Taiwan later this year (organised by RET);
- through the Memorandum of Understanding between the Australian Commerce and Industry Office in Taipei and the Taipei Economic and Cultural Office in Australia on Cooperation within the Fields of Energy and Minerals (term: 2010 – 2015);
- high levels of cultural exchange and tourism between the two countries including such bilateral programs as the Working Holiday Maker Program; and
- the complimentary nature of the trading relationship, with Taiwanese high-technology exports to Australia and Australia’s prominence in the supply of resources, energy and primary products to Taiwan.
Joint Energy and Minerals, Trade and Investment Cooperation Consultations (JEMTIC)
These Consultations have been held on a regular basis since 1992. JEMTIC provides an opportunity for representatives to exchange information on developments in their respective minerals and energy sectors, identify opportunities for technical cooperation and investment, discuss developments in world energy markets and promote two-way trade and investment. Participation from the Australian and Taiwanese private sector is also encouraged in the Consultations.
The 17th JEMTIC Consultations were held in at the Gold Coast, Queensland on 12-13 August 2011. Discussions focused on:
- Australia's various energy and mineral commodities sectors, including policy updates and future productions;
- Taiwan's demand outlook for energy and mineral commodities;
- Australia's resource and energy policies, including the Clean Energy Future Initiative;
- Taiwan's resource and energy policy initiatives, including progress of the review of Taiwan's Energy Policy; and
- Progress so far, and future opportunities for collaboration, under the Australia-Taiwan Memorandum of Understanding on Cooperation within the fields of Energy and Minerals (MOU). Australia and Taiwan agreed to collaborate under the MOU in the following areas:
- Design and energy-saving technology of green buildings;
- Co2 capture and storage technologies and facilities;
- Cooperation in the field of advance metering infrastructure between Taiwan and Australia;
- Concentrated Photovoltaic technology; and
- Lignocellulosic Ethanol Production technologies.
Other topics discussed were:
- details of the Carbon Price, including the basis for valuating the price, how it will affect Australia's commodities (including coal, steel, and LNG), and how the Carbon Price will encourage the uptake and development of renewable energy initiatives and technologies;
- investment opportunities for Taiwan in Australian coal mine projects;
- Australia's rail and port infrastructure capacity constraints, which have the potential to impact on our reliability as a coal supplier;
- the "Smart Grid, Smart City" program – Australia's first commercial-scale smart grid demonstration project; and
- LNG supply - Taiwan indicated their LNG demand will increase following the Energy Policy Review.
To coincide with the JEMTIC, a Clean Energy Workshop was held on 11 August. This workshop focused on the development of CCS, geothermal and solar energy technologies. Presentations were given by experts from Australian and Taiwanese government and industry on the current state of research and the challenges facing large-scale deployment of clean technologies. Of most interest to Taiwan were CCS technologies, with Taiwan seeking guidance from Australia on the development of CCS technologies. Taiwan sees Australia as a global leader in this area, and sees CCS as vital to addressing reduction of Taiwan's emissions in the future.
The Australia Taiwan Business Council hosted the 25th Anniversary Joint Conference immediately following the JEMTIC on 14-15 August 2011.