Economy

Taiwan expands trade presence in emerging markets

Emerging markets such as Russia are being cultivated by Taiwan trade delegates in an effort to create business opportunities for the island’s SME outfits. (CNA)

• Publication Date：08/16/2012
• Source： Taiwan Today
• By  Meg Chang

The first group of special trade delegates tasked with promoting Taiwan in key emerging markets will depart the island beginning Aug. 20, according to the ROC Ministry of Economic Affairs.

Bound for Belarus, Myanmar, Pakistan, Sri Lanka and Russia, the five-member Taiwan External Trade Development Council (TAITRA) delegation is expected to be away for at least two months. It will promote the island’s firms and study target business environments, consumer preferences and government regulations.

“The latest move is part of the central government’s ongoing drive to create overseas business opportunities for Taiwan’s small and medium enterprises in traditional manufacturing sectors,” MOEA Deputy Minister Cho Shih-chao said Aug. 15.

“These vanguards of trade will help promote key local industries such as auto parts and accessories; hardware, machinery and machine tools; and plastics and rubber products,” he added.

By year-end TAITRA is expected to have dispatched 26 delegates to 29 cities in 26 countries encompassing Africa, Asia, East Europe, Latin and South America and the Middle East.

The majority of these markets have never experienced a TAITRA presence before, Cho said, adding that they are all suitable candidates given their sizeable populations and growing purchasing power.

Market intelligence and related information gathered during the visits will be regularly updated on the MOEA-administered Taiwantrade website. (JSM)

Write to Meg Chang at sfchang@mail.mofa.gov.tw