The FSC granted approval to the Export-Import Bank of the Republic of China (Eximbank) to apply to Czech authorities to open a representative office in Prague on 11 November 2021. The Eximbank decided to open a representative office there because the Czech Republic is located in the heart of Europe and is an important transport nexus. In addition to helping build a higher international profile for the bank, having a representative office in Prague can also help Taiwanese enterprises to develop Czech markets and use them as stepping stones to other European countries. This will spur further development of Taiwan's external trade. Taiwan banks currently have no branch units of any kind in the Czech Republic, so an Eximbank representative office in Prague would be the first.