Taiwan to win US$100 mil.-worth of orders in EU trade show
CNATAIPEI, Taiwan -- Taiwanese businesses are expected to win orders worth over US$100 million in the “Trade with the EU 2013” business matchmaking event held Thursday in Taipei, according to the event organizer.
October 4, 2013, 12:17 am TWN
This year's trade show brought together 80 buyers from 18 EU member states, an increase from last year, when 76 buyers from 17 countries took part, said Huang Wen-rong, secretary-general of the Taiwan External Trade Development Council (TAITRA).
As many as 710 one-on-one meetings were arranged between buyers and 410 Taiwanese suppliers at the one-day show, with the focus on products such as machinery, information and communications devices, auto parts and components, mechanical and electrical devices, medical equipment, plastics, chemicals, hand tools, bicycles and metal materials, Huang said.
He predicated that the orders received this year will surpass last year's value of US$97.47 million.
Frederic Laplanche, head of the European Economic and Trade Office in Taipei, who attended the event, said Taiwan is among the top 20 trade partners of the European Union, with a lot of potential business opportunities remaining to be explored between the two sides.
In 2012, investment in Taiwan by companies from EU nations totaled US$1.67 billion, accounting for 30.1 percent of all foreign investment, Laplanche said. He expressed confidence that Taiwan will be able to maintain its attraction to European businesses as long as it continues to improve its business environment.
He also urged Taiwanese businesses to increase their investment in EU countries, pointing out that Taiwanese investment in the EU is only 10 percent that of South Korea's.
Asked about a proposed Taiwan-EU economic cooperation agreement, Laplanche reiterated that the EU has not set a timetable for opening related negotiations with Taiwan.
He said reciprocal treatment will be a major concern in any trade talks.
The EU, for example, hopes that Taiwan will open its market to European beef and pork, while Taiwan hopes to obtain EU certification for its organic agricultural products, he noted.
He disclosed that the certification process for Taiwanese organic products is likely to be completed next year.
The EU is currently Taiwan's fourth-largest trade partner after China, Japan and the United States. Taiwanese exports to the EU were valued at US$14.37 billion in the first seven months of this year.
In 2012, the bilateral trade volume totaled US$48.6 billion, accounting for 8.52 percent of Taiwan's foreign trade.