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June 23, 2017

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Nation eyeing Russia and Turkey to boost exports

TAIPEI--Russia and Turkey may currently represent small markets for Taiwan, but they have the potential to give the country's exports added momentum and boost its economic performance, Taiwan's main trade promotion body said Saturday.

Eyeing the economic strength of the two emerging markets, the Taiwan External Trade Development Council (TAITRA) will arrange 255 one-on-one procurement meetings in Taiwan on June 18 between 191 domestic suppliers and 31 buyers from the two countries.

The nine Russian buyers will include Velomotors, a manufacturer of bicycles, motor scooters, and small all-terrain vehicles; Medtekhnika, which specializes in medical equipment; and other smaller companies with annual revenues of more than US$2 million, according to TAITRA.

The 22-buyer Turkish delegation includes Saray Holding, a food and bakery equipment company with annual turnover of US$290 million, and compressor manufacturer Dalgakiran, TAITRA said.

During the first five months of the year, Taiwan's exports to Europe totaled US$11.94 billion, up 7 percent from the previous year. Exports to Turkey grew 7.67 percent to US$701.07 million over the same period, according to official statistics.

Exports to Russia, however, contracted 3.67 percent year-on-year during the same period because of weak domestic demand, TAITRA said, and it was hopeful that the June 18 event could help reverse the tide.

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