Taiwan’s Q2 trade promotion initiatives deliver handsome benefits

2018/08/09

Taiwan’s international trade promotion initiatives delivered US$1.34 billion in business opportunities for local firms in the second quarter of this year, according to the Ministry of Foreign Affairs Aug. 7.
 
 The potential deals result from the staging of fairs, investment tours and meetings by the MOFA, Ministry of Economic Affairs and government-supported Taiwan External Trade Development Council (TAITRA), as well as efforts to assist local companies in bidding for overseas infrastructure projects. A notable success was the inaugural Taiwan Expo held May 17-19 in New Delhi, with the event leading to commercial opportunities totaling US$120 million, the MOFA said.
 
 According to the ministry, a major focus during the period was Taiwan’s green energy projects. Promotion of the government’s offshore wind farm plans, which aims to raise total marine turbine capacity to 5.5 gigawatts within seven years, has generated foreign direct investment by European firms reaching up to US$10 billion, it said.
 
 From June 20-22, the government dispatched the largest national delegation to the SelectUSA Investment Summit in Washington. The group comprised 120 representatives from 60 enterprises in sectors such as aerospace, biotechnology, information and communication technology, machinery, petrochemicals and solar energy.
 
 On June 28, the second annual Taiwan-Thailand Industrial Collaboration Summit was held in Taipei City. The event was attended by more than 500 officials, business leaders and scholars, and led to the signing of nine memorandums of understanding.
 
 During the second quarter, Taiwan’s representative offices also helped secure a raft of agreements aimed at increasing public and private sector cooperation with international partners. These include an accord between Taiwan’s Ministries of Education and Science and Technology and Poland’s Ministry of Science and Higher Education on academic and science exchanges, as well as a customs cooperation pact and authorized economic operator mutual recognition deal between the Customs Administration under the Ministry of Finance and the Australian Border Force.
 
 Also signed was a memorandum of understanding between Taipei and the Dutch city of Eindhoven on developing smart city solutions for strengthening health care and public safety. Going forward, the government will continue to seek new opportunities to boost Taiwan’s global competitiveness, the MOFA said.

Source: Taiwan Today (https://taiwantoday.tw/news.php?unit=6&post=139379)