Grand sourc­ing event gen­er­ates more than US$5 bil.

The China Post - - TAIWAN BUSINESS - BY JOHN LIU

A to­tal of 550 com­pa­nies hail­ing from 68 coun­tries gath­ered at the TWTC Nan­gang Ex­hi­bi­tion Hall yes­ter­day to meet up with lo­cal sup­pli­ers, and the busi­ness match­ing is pro­jected to gen­er­ate deals worth US$5.23 bil­lion or more.

Sourc­ing Tai­wan 2015, ini­ti­ated by the Bureau of For­eign Trade, the Min­istry of Eco­nomic Af­fairs (MOEA), is the largest an­nual pro- cure­ment event in the na­tion.

The num­ber of coun­tries that dis­patched buy­ers reached a record high this year. The list in­cludes coun­tries with less de­vel­oped trade links with Tai­wan, such as Le­banon, Peru, Bhutan, and Uganda.

More than 1,500 lo­cal sup­pli­ers reg­is­tered for 1-on-1 pro­cure­ment meet­ings with for­eign buy­ers. More than 8,000 such ses­sions will be held, said event co-spon­sor Tai­wan Ex­ter­nal Trade Devel­op­ment Coun­cil (TAITRA).

The num­ber of big buy­ers — with an­nual sales ex­ceed­ing US$100 mil­lion — that showed up at the event reached 171, also a record high.

In the event buy­ers set up booths at the ex­hi­bi­tion hall, and the types of prod­ucts pro­vided ranged from in­for­ma­tion and com­mu­ni­ca­tion tech­nol­ogy, elec­tron­ics com­po­nents, to ma­chin­ery and ma­chine tools, auto parts and mo­tor­cy­cles, med­i­cal equip­ment and biotech, ma­ter­nal, in­fant, and

el­derly sup­plies, and more.

Goals for the Fu­ture

For the first time TAITRA in­tro­duced a ser­vice in­dus­try­des­ig­nated area for ex­hibitors, invit­ing print, hair sa­lon, hand­i­crafts, dig­i­tal con­tent, and med­i­cal ser­vice providers to the event.

It is part of the gov­ern­ment’s ef­forts to ratchet up Tai­wan’s ser­vice in­dus­try out­put to NT$4.75 tril­lion in 2020.

The gov­ern­ment has also set the goal of grow­ing the man­u­fac­tur­ing sec­tor’s out­put from NT$13.93 tril­lion in 2013 to NT$19.46 tril­lion in 2020.

In his ad­dress at the open­ing cer­e­mony, Vice Eco­nomics Min­is­ter Cho Shih-chao ( ) af­firmed the role ex­ports play in Tai­wan’s econ­omy, in­di­cat­ing they grew 2.7 per­cent to US$313.8 bil­lion in 2014.

Ma­jor Mar­kets Sin­gled out by

Gov­ern­ment

The MOEA has picked out 11 coun­tries as Tai­wan’s ma­jor ex­port mar­kets in 2015: Ger­many, the U.S., Turkey, Egypt, Mex­ico, Brazil, In­dia, In­done­sia, the United Arab Emi­rates, Viet­nam, and main­land China. This year there were 235 buy­ers from th­ese coun­tries in to­tal, mak­ing up 43 per­cent of all buy­ers.

TAITRA be­lieves the na­tion’s small and medium-sized busi­nesses will have bet­ter op­por­tu­ni­ties in the Euro­pean mar­ket. Up to 90 busi­nesses from the eu­ro­zone were in­vited to yes­ter­day’s sourc­ing event.

The gov­ern­ment has placed great em­pha­sis on In­done­sia and In­dia, the largest economies in the As­so­ci­a­tion of Southeast Asian Na­tions and South Asia, re­spec­tively.

A con­fer­ence has been sched­uled for to­day, where ma­jor buy­ers, in­clud­ing plas­tic com­pany PT. In­dokarlo Perkasa from In­done­sia, and ma­chin­ery firm RSB Trans­mis­sions from In­dia, will ex­plain their sourc­ing poli­cies and re­quire­ments so as to fa­cil­i­tate co­op­er­a­tion with lo­cal busi­nesses.

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