Taiwan promotes trade with India, Southeast Asia

2016/08/05

The state-supported Taiwan External Trade Development Council (TAITRA) inaugurated marketing centers at its existing trade offices in the Indian cities of Chennai, Kolkata and Mumbai Aug. 1 as part of the government’s New Southbound Policy.

The three centers display a variety of Taiwan-made products and components, ranging from auto parts to bathroom fixtures, and are staffed by Indian project managers, who are responsible for promoting the goods to local companies. Prior to beginning their new roles, the Indian personnel received training in Taiwan to enhance their knowledge of the exhibited items.

“Rather than appealing directly to Indian firms, Taiwan enterprises can demonstrate their goods to the project managers, who can then showcase these products to local companies,” said Chen Jih-tarng, deputy executive director of TAITRA’s Strategic Marketing Department. “This should make it easier for Taiwan firms to identify opportunities in the Indian market.”

Under the New Southbound Policy, Taiwan is seeking to elevate the scope and diversity of its export economy and minimize overreliance on any single market. The initiative extends to South and Southeast Asia and encompasses inbound investment and tourism, as well as educational and cultural exchanges.

In addition to its marketing efforts in India, TAITRA has arranged a number of events in Taiwan this summer to foster trade with Association of Southeast Asian Nation member states. These include business gatherings July 21 between Taiwan suppliers and 43 e-commerce companies based in Southeast Asia, as well as meetings July 25 between Taiwan cosmetics manufacturers and seven fashion magazines from the region.

On July 27, TAITRA organized the ASEAN Business Day trade fair, enabling representatives of 420 Taiwan companies to meet with more than 100 buyers from Southeast Asia. Over 1,000 one-on-one meetings took place at the event, leading to deals worth US$50.6 million.

TAITRA is also expanding its digital presence in the region. On July 1, it launched the Indonesian and Vietnamese-language editions of Taiwantrade, a business-to-business trade promotion website, with the Thai-language version scheduled to go live in October. ASEAN was Taiwan’s second-largest export market in 2015, accounting for 18.1 percent of the total, while India ranked 16th.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=246752&ctNode=2194&mp=9)