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May 29, 2017

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Taiwan-Japan procurement meet aims to motivate Taiwan exports

TAIPEI, Taiwan -- The 2014 Taiwan-Japan Procurement Meeting was held on July 8 as part of the Taiwan External Trade Development Council's (TAITRA) efforts to match Japanese buyers with local manufacturers.

This meeting was held at the Taipei International Convention Center, with 37 firms from Japan and over 300 companies from Taiwan gathering to seek new business opportunities through one-on-one meetings.

TAITRA Market Development Deputy Director Tzuo Wei-da (左惟達) said that machinery and equipment were what was most needed at the procurement event. Japanese buyers were most interested in electronic and mechanical components, auto parts and accessories, the green industry and hand tools. It shows that products made in Taiwan are highly competitive, Tzuo said.

In order to revive Japan's economy, Prime Minister Shinzo Abe launched the so-called Abenomics program in 2012. One of the measures the program promotes is the depreciation of the Japanese yen. Another one is to lower the cost of imports so as to hike up domestic demand. TAITRA said that Taiwan was once the second largest trading partner for Japan. The event was designed to help Japanese companies procure products as well as to give a hand to Taiwanese companies to enter the Japanese market.

"Trading activities between Taiwan and Japan have been frequent in recent years, and exports to Japan were close to US$6.2 billion between January and May. Compared with the same period last year, trade grew 1.1 percent. It showed that the procurement situation between Taiwan and Japan was maintained at a relatively constant level. Looking forward, Taiwan will create enormous business opportunities through procurement events such as these," said Tzuo.

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