Taiwan Business Guide - Management and Business Studies Portal

INTRODUCTION
WHY Taiwan? (CONTINUED)
Strong bilateral trade
Most of the world, including the UK, does
not recognise Taiwan as a sovereign entity
separate from China, due to the political
disagreement between the two. This has
led to diplomatic isolation for Taiwan, but,
despite this, the country enjoys a strong trade
and investment relationship with the UK.
Exports
Taiwan is the UK’s 44th-largest export
market. Only two other countries in Europe
export more to Taiwan. In 2010, UK
exports to the country were worth £1.05
billion, up 40 per cent on 2009. The UK’s
principal exports to Taiwan are: electrical
machinery; beverages; industrial machinery
and equipment; metalliferous ores and
metal scrap; medicine and pharmaceuticals.
Inward investment
There are currently around 180 Taiwanese
companies with an active presence in
the UK. In 2009/10, 13 more Taiwanese
firms established a presence in the UK,
including specialists in ICT, biotechnology
and healthcare. This helped to create
and safeguard over 200 jobs. Seventy
per cent of all Taiwanese investment in
Europe comes to the UK and nine of
Taiwan’s leading financial institutions are
represented here, including the Bank of
Taiwan, the Central Bank, the Financial
Supervisory Commission, Chang Hwa
Commercial Bank and SinoPac Securities.
Imports
Imports from Taiwan to the UK were worth
£2.9 billion in 2010, up 38 per cent on the
previous year. Taiwan is the 32nd-largest
supplier of goods to the UK. The UK’s
principal Taiwanese imports are: office
machinery and automatic data processing
systems; telecoms and sound recording/
reproducing equipment; electrical machinery
and miscellaneous manufactured articles.
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