About Australia's minerals and energy cooperation with Taiwan
Taiwan and Australia share a strong cultural and economic relationship.
From an economic perspective, the relationship generates business and investment for Australian and Taiwan companies and jobs for people of both economies. Australia and Taiwan also encourage people-to-people contacts in areas such as the arts, culture, education, science, tourism and sport.
The relationship between Australia and Taiwan is supported and exemplified by regular bilateral consultations including the:
- Bilateral Economic Consultations (BEC)—most recently held in May 2011, with a following consultation to be held in Canberra in June 2012 (organised by DFAT)
- Joint Energy and Minerals, Trade and Investment Cooperation Consultations (JEMTIC)—see About the Joint Energy and Minerals, Trade and Investment Cooperation Consultations (JEMTIC).
Australia and Taiwan's relation is supported through the Memorandum of Understanding (MoU) 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. The MoU is in operation from 2010 to 2015.
There are also high levels of cultural exchange and tourism between the two countries including such bilateral programs as the Working Holiday Maker Program.
Australia and Taiwan share a complimentary nature in their trading relationship, with Taiwanese high-technology exports to Australia and Australia's prominence in the supply of resources, energy and primary products to Taiwan.
About the Joint Energy and Minerals, Trade and Investment Cooperation Consultations (JEMTIC)
The Joint Energy and Minerals, Trade and Investment Cooperation Consultations (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.
Seventeen JEMTIC consultations have been held since 1992. The most recent JEMTIC consultation took place 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
- progress to date, and future opportunities for collaboration, under the Australia-Taiwan MOU. Australia and Taiwan agreed to collaborate under the MOU in the areas of: design and energy-saving technology of green buildings, carbon capture and storage (CCS) 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 liquefied natural gas (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
- LNG supply—Taiwan indicated their LNG demand will increase following the Energy Policy Review.
To coincide with the JEMTIC event, a clean energy workshop was held on 11 August 2011. 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 considers CCS to be vital to addressing reduction of Taiwan's emissions in the future.
The Australia Taiwan Business Council also hosted the 25th Anniversary Joint Conference immediately following the JEMTIC on 12–13 August 2011.
The next JEMTIC consultation is expected to be held in Taiwan in later 2012 (organised by RET). Participation from the Australian and Taiwanese private sector is encouraged in the consultations.
For more information about Australia's bilateral cooperation with Taiwan email RETInternational@ret.gov.au.
For more information about Australia's bilateral and mineral cooperation with other countries, see Bilateral Minerals and Energy Cooperation.