Sourcing Taiwan 2014 may make over US$5 bil. in purchases
By Kathryn Chiu , The China Post
March 17, 2014, 12:04 am TWN
TAIPEI, Taiwan -- As the global economy shows strong signs of recovery, Sourcing Taiwan — the island's largest international procurement fair — is expected to create business opportunities valued at more than US$5 billion.
Sourcing Taiwan 2014, organized by the Bureau of Foreign Trade and executed by the Taiwan External Trade Development Council (TAITRA), serves as a trade link between global buyers and top-rated Taiwanese suppliers. The trade show will be held on March 26 and 27 in Taipei World Trade Center (TWTC) Nangang Exhibition Center.
TAITRA's data shows that Sourcing Taiwan 2013 brought together 688 global buyers and 2,200 local suppliers, resulting in record-setting purchasing value of US$4.93 billion.
According to local media reports, the purchasing value of Sourcing Taiwan 2014 might hit a fresh high of US$5 billion given a strong reading in the economies of the United States and European Union.
Taiwan's exports last November fell for the third consecutive month, sliding 4.7 percent from last October to US$24.89 billion, the lowest this year outside of February. However, with global growth expected to warm up in 2014, the export outlook for Taiwan is guardedly optimistic, local media report.
Started in 2009, Sourcing Taiwan is one of the most important state-sponsored campaigns aimed at promoting Taiwan as a global supplier of choice.
In terms of industry sectors, green items including solar energy, wind-driven generators, electric vehicles and light emitting diodes (LEDs) represent most of the global buyers, followed by IT telecom/electronic parts and machines, as well as hand tools and fasteners.
At Sourcing Taiwan 2013, 62 of the foreign buyers had annual revenues of more than NT$1 billion each, and 222 had revenues in excess of NT$100 million each. About one-fourth of the total (142) came from 10 emerging markets including mainland China, Brazil, Turkey and countries in Southeast Asia. First-timers included buyers from Finland, Belgium, Cyprus, Austria, Kuwait and Iraq.