Source: Taiwantrade | Updated: 18 September 2015
Trade with the EU 2015 to be held at the Taipei World Trade Center on September 29 will focus on trade cooperation between Taiwan and the EU. European and Taiwanese entrepreneurs will attempt to work out any cooperation opportunities through a series of procurement meetings that cover a range of products, including auto parts, ICT products, industrial tools, household goods, hardware tools, etc.
Aiming to further promote Taiwan’s product development strength and product niches, TAITRA together with its 11 overseas offices in Germany, UK, France, Netherlands, Italy, Spain, Poland, Hungary, Romania, and Bulgaria is planning to invite 25 EU buyers to take part in a business matching event with 70 Taiwanese suppliers.
Based on a statistical report by the Ministry of Finance, R.O.C., the EU is Taiwan’s forth biggest export destination, accounting for USD 26.5 billion of the total exports in 2014, or a 2.7% growth rate as compared to a previous year. Thanks to the EU’s quantitative easing programme (QE) implemented on March 9th this year and which will last at least until September 2016, growth in the EU has been rising, benefiting primarily the region’s manufacturing industry.
According to the Flash Eurozone Manufacturing’s PMI, it showed a dip to 51.9 in March but rose to 52.3 in May. As the region’s economy starts to recover, exports have become so strong that we can expect an increasing need for imported mechanical tools and intermediate goods, such as steel and ancillary parts.
With a promising outlook, this event has already attracted 25 EU enterprises to attend the 200 meetings with different local suppliers. There will be several high profiles EU buyers, whose annual revenues are greater than US$1 billion. They include VDL Parree, Piaggio & C s.p.a., Brembo S.p.A. who owns the famous Brembo, Bybre, Marchesini and Sabelt brands, and AP Racing.
To increase Taiwan’s international market shares and attract more business in different European countries, TAITRA collaborated with the Industrial Technology Research Institute (ITRI) and the Taiwan Electrical and Electronic Manufactures’ Association (TEEMA) to set up the Enterprise Europe Network Taiwan last June. The Network is designed to assist Taiwanese SMEs in taking advantage of the business opportunity in the EU through R&D, technology transfer and business cooperation. This event is expected to flourish especially with the support of the Network.
Doris Weng (email@example.com)