Building Investment (Nov - Dec 2016)

6 Building & Investment | w.b-i.biz
Taiwan trade mission to
mobilise new markets
Focus on Southeast Asian countries under ‘New Southbound Policy’.
News & Events
ORGANISED by the Taiwan External Trade Development Council
(TAITRA), a delegation of 32 Taiwanese manufacturers and
entrepreneurs recently called at Kuala Lumpur, en route to the
other ASEAN member countries of Indonesia, Myanmar, Thailand
and Vietnam. The sojourn is part and parcel of the Taiwan’s ‘New
Southbound Policy’, aimed at exploring and mobilising new markets
insofar as trade opportunities and investment, with the focus on
the ASEAN Economic Community (AEC). Notwithstanding the
prevailing global slowdown, annual economic growth of the AEC
is forecast at 4.9% in the next five years, compared to global rate of
3.1%, - reason enough for governments to re-align medium term
trade and fiscal policies towards South Asia.
Malaysia-Taiwan Trade
At a simple ceremony to mark the occasion of the visit on 25 October
this year, Mission Leader, Mr Yang Wei-Fuu, Honourable Vice Minister
of Economic Affairs, reiterated that ‘Malaysia is currently Taiwan’s
8th largest trading partner, accounting for annual trading volume
of 2.76%’ whereas Taiwanese investments in Malaysia has already
topped USD 12 billion as of 2016, making Taiwan ‘the 4th biggest
foreign investor in Malaysia.’ On the premise that of Malaysia’s total
imports for 2015 registered USD 160 billion with 4% attributed to
Taiwan, he reckoned that there is ‘still much room for improvement
in bilateral trade’ between the two nations.
Regionally, of its total outbound shipments, Taiwan exports
18.1% to Southeast Asia, in which countries its direct investment has
reached USD 86.9 billion. In short, ASEAN is an important export
market for Taiwan, sentiments echoed by two other VIPs at the event,
namely, HE Mr James Chang Chi Ping, representative of Taipei
Economic and Cultural Office in Malaysia and YBhg Amb Dato Sri
Syed Hussein Al Habshee, Secretary General of the National Chamber
of Commerce and Industry of Malaysia (NCCIM). In closing, Mr
Yang remarked that, for the ensuing year, Malaysia and Indonesia are
targeted markets for export trade and investment.
FROM LEFT: Mr James Chi-ping Chang, Head of the Taipei Economic and
Cultural Office in Malaysia; Mr Yang Wei-Fuu, Vice Minister of the Ministry
of Economic Affairs, Taiwan and Dato Sri Syed Hussein Al Habshee,
Secretary-General of National Chamber of Commerce and Industry of
Malaysia (NCCIM).
Mission Objectives/Showcase
Thereafter, for the rest of the day, the Mission agenda centred on
business networking sessions with participating companies on hand
to:
to show and tell, of the latest innovative technology and/or
products that the Republic has to offer, i.e., product information
along with samples;
to engage Malaysian counterparts and interested parties in
promoting the building of alliances and/or partnerships and
ventures;
to explore on opportunities, in new or added investment, to be
had in Taiwan; based on location, infrastructure and capital.
The broad spectrum of industries and/or products represented
included green-energy goods, IT equipment and devices, health and
beauty care, automotive (parts and accessories), communication,
industrial machinery, hardware, food and daily consumables,
electrical and electronics, building materials and apparel.
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