Nov. 19, 2014 | Bangkok, Thailand – Featured theme ‘Power-up Automotive Manufacturing Sector in Thailand’, Taiwan Machine Tools New Product Launch at METALEX 2014 spotlighted the unique strengths of Taiwan’s metalworking technologies and machine tools in sharpening the competitive edges and business opportunities for Thai manufacturers. Organized by the Bureau of Foreign Trade (BOFT), Ministry of Economic Affairs, and implemented by the Taiwan External Trade Development Council (TAITRA) and the Corporate Synergy Development Center (CSD), this press event served as a major platform for showcasing the best-of-breed metalworking technologies to drive the Thailand’s automotive manufacturing community forward.
Senior Advisor Chiu Bo-Ching of the Taipei Economic and Cultural Office (TECO) in Thailand noted, “Thailand and Taiwan have established close bilateral trade relations. Thailand is the 14th largest trading partner of Taiwan, also the 5th largest trading partner among ASEAN countries, with total bilateral trade between them amounting to over USD 10.08 billion last year.” Taiwan is the 12th largest trading partner of Thailand.
Mr. Chiu continually added, “Establishing good economic and trade relationships with ASEAN countries, especially with Thailand, has always been the goal of Taiwan. Despite Thailand having suffered six months of political turmoil, we are still optimistic that its economic growth is still on track given that Thailand’s favorable geographical location, large population, and pending public-private infrastructure projects. Both Taiwan and Thailand are major manufacturing hubs for regional and global supply chains. Each side shares some common interests, with innovation at the heart of future development.”
He concluded that Thailand is a high-potential market full of business opportunities for Taiwanese companies.
Justin C.K. Tai, Director, Taiwan Trade Center, Bangkok, also commented: “Among ASEAN countries, Thailand is Taiwan’s most important export destination for machine tools. Despite facing hurdles, Taiwanese machine tool makers were still able to ship machine tools to Thailand amounting to US$ 225 million last year. It is also worth noting that of the total number of machining centers imported by Thailand in 2013, 26% were supplied by Taiwanese machine tools makers. Thailand is the third largest export market for Taiwan machine tools behind China/Hong Kong and the U.S. As Thailand is the “automotive manufacturing hub of Asia, it relies heavily on machine tools.
Looking into the future, Taiwan will play a substantial role in the supply of machine tools to the global market in general, Thailand in particular.”
Visitors to Taiwan Pavilion at the METALEX 2014 will have an unprecedented opportunity to explore world-class innovations and technologies presented by over 200 Taiwanese brands.
Taiwan Pavilion hosts the largest country pavilion in the event with over 69 exhibitors, covering an exhibiting area of over 1,473 sqm