Source: Taiwantrade | Updated: 22 December 2015
The Taiwan External Trade Development Council (TAITRA) held the 2015 ASEAN Business Forum and Procurement Meetings on October 30 under the auspices of the Bureau of Foreign Trade, MOEA. The event focused on six countries, namely Indonesia, Thailand, the Philippines Singapore, Malaysia, and Vietnam, which collectively accounted for 98% of Taiwan’s exports to the ASEAN region last year.
The ASEAN Business Forum, One-on-One Partnership Meetings and ASEAN Trade & Investment Pavilion successfully integrated partnership among businesses, and brought together representatives from the six countries to meet their counterparts from Taiwan.
As the ASEAN Economic Community (AEC) nears realization, TAITRA foresees the huge business opportunity in the region. In a speech delivered during the opening ceremony, Francis Kuo-Hsin Liang, chairman of TAITRA, said, “The ASEAN is now the second largest market for Taiwan exports. Once the AEC comes to fruition, tariffs on many products will be removed.”
With increasing income and consumption in the region, the ASEAN market will be more and more important to Taiwan. In anticipation of this, TAITRA will help Taiwan companies to cooperate with ASEAN businesses.
Shih-Chao Cho, deputy minister of the Ministry of Economic Affairs, stressed that the ASEAN are member nations of both RCEP and TPP. Taiwan values its partnership with ASEAN, especially in the areas of trade and investment.
During the ASEAN Business Forum, some 300 Taiwanese enterprises shared their market experience. Six key speakers, each familiar with one of the six ASEAN countries mentioned above, along with the six directors of the TAITRA branch offices in these nations, shared their insights on the markets.
Meanwhile, a series of one-on-one partnership meetings saw 36 potential business partners, 42 representatives from the six countries and 270 Taiwan companies engage in cooperation discussions. The meetings resulted in business opportunities worth USD 67 million.
At the ASEAN Trade & Investment Pavilion, Taiwan representative offices of the six ASEAN nations set up booths and presented their respective nations’ government service, products, and business and tourism activities. The participants thought the event was helpful. Many had met potential business partners and got useful market information and the trends in the ASEAN market.