"The German government hails the election in Taiwan," Steinmeier said in a statement. "Germany supports the democratic values of Taiwan and the economic development of the island."
"In the interest of peace and security in the region, we hope now for a peaceful dialogue between the two parties, that could lead to a lasting resolution of the situation."
Taiwan's president-elect Ma Ying-jeou, buoyed by a landslide election win on Saturday, said he wanted a "non-denial" agreement that would allow Taiwan and China - which claims sovereignty over the island - to exist side by side.
The Harvard-educated opposition Kuomintang (KMT) candidate promised to work for warmer relations, pressing for closer trade ties, direct air and tourism links and a peace treaty that would end decades of hostilities since Taiwan split from the mainland in 1949.