Taiwan-US procurement event gets underway

2014-10-03

Trade with U.S., a purchasers’ conference for U.S. firms organized by Taiwan External Trade Development Council (TAITRA) and the Bureau of Foreign Trade under the Ministry of Economic Affairs, kicked off Oct. 2 at Taipei International Convention Center.

A total of 23 large U.S. firms will engage in 250 one-on-one meetings with 300 Taiwan manufacturers of auto parts, consumer products, electronics, food, information and communications technology and medical care.

Wesco International Inc., a Pittsburgh-based electronics distribution company with over US$6.5 billion in annual sales, is expected to place orders totaling US$10 million for auto parts, clothing, food, ICT devices, sports equipment and textiles. Other notable participants poised to make a splash include ASI Corp., Bebe Stores Inc., Schnuck Markets Inc. and Tawa Supermarket Inc.

“During the two-day annual event, there will be a U.S. investment seminar co-hosted by the MOEA and American Institute in Taiwan,” a BOFT official said. “Representatives from the economic development councils of Kentucky, Massachusetts and Texas are set to take part and boost trade and investment opportunities.”

According to the official, as Taiwan is stepping up efforts to join the Trans-Pacific Partnership and sign a bilateral investment agreement with the U.S., the two sides have witnessed a notable spike in economic exchanges.

“In the first eight months this year, the U.S. has surpassed Japan as Taiwan’s second largest trading partner, with bilateral trade increasing 6.6 percent year on year to US$36 billion,” the official said.

Hopes are high for the success of the event, with a similar conference in March generating US$2.26 billion in business. In addition, TAITRA inked memorandums of understanding on collaboration with the agricultural and economic councils of Arkansas, Indiana and Wyoming, as well as the U.S. and Foreign Commercial Service.

“As bilateral exchanges intensify across all sectors, the BOFT is working to further consolidate the Taiwan-U.S. relationship and joint economic integration efforts,” the official said.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=222347&CtNode=413)