TAITRA launches export market database

2015-01-15

A database covering 80 markets worldwide went live Jan. 14 in Taipei City, underscoring efforts by Taiwan External Trade Development Council (TAITRA) to cultivate business opportunities for local firms.

“Global Market Potential Indicators is the most comprehensive system of its kind in Taiwan,” TAITRA President Peter Huang said at a promotion event two days before. “Based on quantitative and qualitative evaluation, it provides detailed analysis of target markets, including such information as currency fluctuations, geographic distances and tariff barriers.”

Utilizing in-house research by the overseas offices of TAITRA and the Ministry of Economic Affairs, the database is aiding in the identification of potential-laden markets in Africa, America, Asia, Europe and the Middle East for 2015.

“It also employs a comprehensive set of diagnostic tools to predict export growth and market demand from the perspectives of exporters, importers and end users,” Huang said. “For example, the system identified the local bicycle sector’s competitive edge in the EU, as well as expansion potential of Taiwan’s auto parts, hand tools and machinery sectors in different markets.”

According to the database, 16 markets should be targeted without delay by Taiwan exporters. These include developing nations Bangladesh and Myanmar; countries with a rising middle class such as the Philippines and Vietnam; mature emerging markets like Malaysia, Mexico and Poland; and the advanced economies of Canada, the U.K. and U.S.

In addition, the Middle East is rated favorably on the strength of increasing government spending despite weakening oil process and political unrest.

“We expect the system to play a key role in paving the way for local firms to expand the nation’s trade footprint abroad and help improve export numbers in the coming year,” Huang said.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=226233&CtNode=413)