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Taiwan Machine Tools | June 27, 2017

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MOEA promotes country at Sourcing Taiwan exhibition

MOEA promotes country at Sourcing Taiwan exhibition

The Ministry of Economic Affairs (MOEA) hosted a press conference on Monday to publicize Sourcing Taiwan 2017, a trade event for international buyers and sellers, that is taking place this Wednesday at the Nangang Exhibition Center.

According to the event’s organizers at MOEA’s Bureau of Foreign Trade, Sourcing Taiwan 2017 serves “as a trade link between global buyers and top-rated Taiwanese suppliers."

Event representatives reported that there will be 580 buyers from 61 countries attending this year’s Sourcing Taiwan, which will feature nearly 1600 domestic businesses who have scheduled over 6000 one-on-one business meetings with international buyers.

In its ninth year, Sourcing Taiwan 2017 promises an increase in new buyers — in fact, the percentage of new buyers is set to be a record high of 76 percent this year.

274 buyers for this year’s event (nearly 50 percent) are from Southeast Asia’s emerging markets, as the Bureau of Foreign Trade attempts to promote the government’s New Southbound Policy.

The Big Buyers in Town

At the press conference, MOEA revealed some of the big companies that are in town for this trade event, including global companies like Newegg and Future Electronics, Japan’s Bic Camera, and Germany’s Meister Werkzeuge GmbH.

Major buyers from Southeast Asia, according to MOEA officials, include Indonesia’s largest automotive component manufacturer PT Astra Otoparts and its second largest e-commerce platform BliBli, Vietnam’s largescale construction company Coteccons Group, and Myanmar’s largest ICT importer KMD Company.

According to the ministry’s data, 124 buyers attending this year’s Sourcing Taiwan make

over US$100 million (NT$3.0157 billion) in annual revenue, amongst which 30 make over US$1

billion (NT$30.157 billion) and 13 make over US$5 billion (NT$150.785 billion) annually.

Buyers coming into town are reportedly most interested in Taiwan’s communications, electronics, machinery and green products, according to MOEA.

Southbound Plans

Organizers of this year’s event have specifically asked trade offices from New Zealand, Indonesia, Thailand, India, Malaysia, the Philippines, and Myanmar located in Taiwan to host their own booth at the one-day event to promote economic and cultural exchange between Taiwan and these seven countries.

Sourcing Taiwan 2017 will be one of many events that MOEA and the Taiwan External Trade Development Council (TAITRA) hosts as part of its continued efforts to expand into Southeast Asia.

According to officials, TAITRA will be hosting Taiwan Excellence shows to promote Taiwan’s products and market the country in Indonesia, Vietnam, the Philippines, and Malaysia starting in May.

Source: http://www.chinapost.com.tw/taiwan-business/2017/03/28/494417/MOEA-promotes.htm

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