Sourcing Taiwan Brightens and Broadens MIT Products
Sourcing Taiwan 2018 was orchestrated by TAITRA and held at Taipei Nangang Exhibition Center on March 22nd. A total of 202 international buyers from 53 different countries were invited to conduct 2,110 one-on-one meetings with 827 Taiwan’s Taiwanese counterparts. Based on survey feedback from the participants, 95.9% of the respondents were satisfied with the event. In addition, the activities enabled individual buyers to locate an average of 5.5 potential Taiwanese suppliers.
As the world is full steam ahead developing electric vehicles (EVs), the number of purchasers interested in EV-related components is on the rise. For example, TATA, India’s foremost carmaker, was sourcing batteries, charging apparatus, Advanced Drivers Assistance System (ADAS) and LED head lights. India lacks LED head light makers, and as Taiwan is renowned for its LED modules, TATA was quoted as hoping to establish cooperative relations with the island. Furthermore, Vestel Elektronik, the second largest household appliances supplier in Turkey, sought EV-related chargers. The country will develop its own EV within two years and therefore Turkey’s EV industry will foreseeably experience growth.
TAITRA took the initiative to invite 60 vendors from New Southbound countries to establish their presence in Taiwan’s market and pave the way for reciprocity between Taiwan and the region. Thailand surpassed all countries wishing to deepen economic relations with Taiwan, with food products being the major merchandise on the promotions list. Hua Huat, a famous biscuit manufacturer in Malaysia, adjusted its food ingredients to reflect Taiwanese flavors, with the intention to introduce novel crackers to Taiwanese consumers. Another Indonesian food distributor PT INTRADITA PROSIMPEX sought to promote its well-known ABC Chili Source, brown sugar and prawn crackers.
In line with its general practice, TAITRA provided online trade meetings for those unable to attend the Sourcing Taiwan event. A total of 56 foreign companies from 21 countries were invited for 168 meetings with their Taiwanese counterparts. A large proportion of the online trade meeting participants were from mainland China.