Taiwanese, Turkish groups ink machine tool deal
CNATAIPEI -- Taiwan's main trade promotion body signed a memorandum of understanding with a Turkish machine tool industry association yesterday that is expected to strengthen bilateral economic relations.
March 7, 2013, 12:30 am TWN
The agreement between the Taiwan External Trade Development Council (TAITRA) and the Machine Tools Industrialists and Businessmen's Association of Turkey (TIAD) will create even closer ties in the exhibition sector and machine tools industry, TAITRA officials said.
“It's an honor to see Taiwan machine tool products of high quality being sold on the Turkish market and around the world,” Peter Huang, executive vice president of TAITRA, said at the signing ceremony.
“By signing this MOU, I know that the ties between our machine tool and machinery industries will be strengthened, and I think it will provide good opportunities,” he said.
Taiwan's machine tool exports to Turkey totaled US$204 million in 2012, an increase of 2.1 percent from the previous year, according to TAITRA. That put Turkey among the top five export markets for Taiwan's machine tool industry.
Moreover, Taiwan is now Turkey's biggest supplier of machine tools, ahead of Germany, Italy, South Korea and Japan, according to the Turkish machine tool association.
Erdal Gamsiz, president of the Turkish machine tools association, told CNA that Taiwan's machine tools exports to Turkey will likely grow by about 3 percent this year because of robust demand in his country.
Turkey's demand for machine tools remains strong despite Europe's weak economy because it still supplies a wide range of products to other markets, such as the United States and Africa, Gamsiz noted.
He said Taiwanese companies can offer “acceptable quality” and “reasonable prices,” which is important to Turkish manufacturers.
The agreement was signed during the 2013 Taipei International Machine Tool Show (TIMTOS), which has attracted a record 1,009 exhibitors from 17 countries.
The six-day exhibition, which is co-hosted by TAITRA and the Taiwan Association of Machinery Industry and ends on March 10, is the largest of its kind in Taiwan and the second-largest in Asia.
TAITRA estimated that the show will create US$2 billion in new trade opportunities.