Economic Affairs Minister Steve Chen made the pledge at the opening ceremony Monday for the 2007 International Auto Parts & Accessories Show (TAIPEI AMPA) and the 2007 Taipei International Automobile Electronics Show (AutoTronics Taipei 2007) at the Taipei International Convention Center. A total of 2,301 booths have been set up at the two shows, which have drawn 995 companies from 15 countries to participate and will run until April 5.

The auto parts industry plays an important role in Taiwan’s economy, with the sector’s exports totalling US$4.15 billion for 2006, up 3.8 percent over the previous year, Chen said.

Chen noted that according to data compiled by IC Insight, a U.S.-based market research organization,automobile electronics accounts for 20 percent of production costs in the automotive industry, with the figure expected to rise to 40 percent by 2010 and 50 percent in 2015, adding that by that time, global production of automobile electronics is forecast to reach US$400 billion.

The Industrial Development Bureau under the MOEA is working on improving the auto parts industry’s research and development, while the Small and Medium Enterprise Administration is working on an assistance project concerning automobile electronics technology, and the Bureau of Foreign Trade is helping auto parts companies expand their market share, Chen added.

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