Bilateral trade gains on back of US Trade Day

2015/08/10

U.S. Trade Day concluded Aug. 5 in Taipei City, creating an estimated US$416 million in business opportunities for Taiwan and American firms.

Organized by Taiwan External Trade Development Council (TAITRA) under the auspices of the Ministry of Economic Affairs, the one-day event featured more than 250 business matchmaking sessions and 12 video conferences. It was also supported by the American Institute in Taiwan and American State Offices Association.

A total of 15 major buyers from 10 U.S. states took part in the procurement seminar, sourcing such items as auto parts and components, consumer and food products, electronics, information communications technology products and medical devices and supplies.

During the opening ceremony, MOEA Deputy Minister Cho Shih-chao said Taiwan and the U.S. enjoy solid collaboration in economy and trade, with the U.S. Taiwan’s second largest trading partner last year.

“This annual event, now in its fourth year, remains an important platform in promoting Taiwan products and services to the U.S. and keeping local firms up to speed on the investment environment in America.”

In response, AIT Director Kin Moy said the U.S. is appreciative of its long-standing partnership with Taiwan spanning trade and investment. “It is important both sides utilize combined strengths to benefit respective economies and create greater prosperity en route to further developing these two-way ties.”

ROC government data reveals that for the first half of the year, Taiwan-U.S. trade hit US$29.9 billion, with local exports to the U.S. gaining 2.31 percent year on year. Bilateral trade reached US$62.3 billion in 2014.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=233472&ctNode=413)