Grand sourcing event generates more than US$5 bil.
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
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.