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May 1, 2017

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'New Southbound' gets boost from Sourcing Taiwan

TAIPEI, Taiwan -- The government's "New Southbound Policy" will get a boost at the upcoming Sourcing Taiwan 2017, with nearly half of the over 500 international buyers coming from countries targeted by the initiative, organizers said Monday.

The annual trade event, organized by the Bureau of Foreign Trade and executed by the Taiwan External Trade Development Council (TAITRA), will be held March 29 at Taipei Nangang Exhibition Center. TAITRA said the event serve as a trade link between global buyers and top-rated Taiwanese suppliers.

TAITRA officials said that over 500 buyers from 60 countries would conduct one-to-one trade talks with local suppliers across various industries.

Presence of Global Heavyweight Firms

Many big name foreign firms will be in attendance, officials said, including retailers Amazon and Newegg from the U.S., leading Japanese appliance maker Bic Camera and hand-tool giant Meister Werkzeuge and lighting brand Osram, both from Germany.

In line with the government's "New Southbound Policy," TAITRA has invited some 250 buyers from targeted countries. Among them are Columbia, Indonesia's leading vendor of information and communication technology products, and Coteccons, a major Vietnam-based construction engineering group.

TAITRA said it would provide specially designed services to help Taiwanese participants explore trade opportunities in Southeast Asia and other regions covered by the policy.

Organizers are also setting up an economic and cultural exchange area plus a southbound trade talent nurturing service area, in addition to a series of South Asia- and Southeast Asia-focused trade promotions throughout the year to help local makers tap these markets.

Plenty of Room for Negotiating

The Sourcing Taiwan venue will house 10 major negotiation areas classified by industry, namely: electronics and ICT products, machinery equipment, auto parts, hardware and hand tools, foods and agricultural products, bicycles and sporting goods, motorcycle parts and accessories, and newly emerging industries such as biotech medicines, green energy products, cosmetics and functional textiles.

All local manufacturers can register online to participate in "one-on-one" trade talks at the event. The online registration is free of charge and will run from Feb. 15 through Feb. 27 or until all spots are filled.

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