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Sourcing Taiwan 2010 bags orders worth US$3.65 billion.

By the time it wound up early this month, Sourcing Taiwan 2010 had brought in orders estimated at US$3.65 billion, mainly for information and communication technology (ICT) products, solar and energy-saving devices, machines, environmental protection facilities, hardware, and building materials.

The event, initiated by the Bureau of Foreign Trade (BOFT) and organized by the Taiwan External Trade Development Council (TAITRA), attracted a total of 450 foreign buyers from 43 countries. The biggest contingent was from China, with more than 100 buyers, followed by India and Egypt with 20 each.

Vice President Vicent Siew attributes the success of Sourcing Taiwan 2010 to the strenuous efforts of BOFT and TAITRA, which have masterminded Taiwan's external trade development and worked hard to help domestic manufacturers penetrate global markets.

Despite the global economic downturn, Taiwan's export value remained more or less normal at more than US$200 billion last year-this despite a 1.9% contraction of the economy (which was, however, better than the expected -2.1% growth).

Siew emphasizes that Taiwan is a small island with an economy that is heavily dependant on trade. He urges the island's manufacturers to keep turning out high-end quality products to attract more foreign buyers and stay competitive in the world market. He believes that Sourcing Taiwan is an effective channel for trade between international buyers and top-rate suppliers in Taiwan, and that it will add momentum to the island's trade performance.

More than 2,000 domestic manufacturers displayed a wide variety of products to attract foreign buyers during the three-day Sourcing Taiwan show. TAITRA notes that Sourcing Taiwan 2010 received an enthusiastic response from leading enterprises in emerging markets, many of which sent representatives to attend the event: Arcelik A. S., the largest home appliances manufacturer in Turkey, for example; Brasil & Movimento S/A, the largest bicycle maker in Brazil; leading Brazilian computer firms Positivo Informatica, Siemens Enterprise Communications, and SEMP Toshiba Information; and Fota, a prominent auto parts retailer in Poland.

Other participants from Asia included Indonesia's three top retailers, Matahari, Index Home Center, and Tiga Raksa; the Hero Group, an automobile maker in India; Pran, the largest vegetable and fruit processor in Bangladesh; and Ace Home Center, an Indonesian household hardware retailer. More came from South Korea, Japan and China.

In terms of industry, ICT and solar energy received the highest value of orders, with US$1.68 billion, followed by machinery and environmental protection equipment with US$750 million. Hardware and building materials took third place with US$680 million. The top three sectors together accounted for 85% of the total value of orders placed with participating suppliers.

TAITRA disclosed that the Sawaeed Group from Saudi Arabia was strongly interested in Taiwan's solar-energy systems, closed circuit television (CCTV) systems, and LED lighting products, and that Inti Daksina from Indonesia was likely to purchase power systems and LED modules produced by Taiwanese manufacturers. Setav Steelservice of Ukraine and Marcopol of Poland both expressed an intention to buy nuts and bolts as well as aluminum products made by companies on the island.

TAITRA chairman C.K. Wang explained that BOFT and TAITRA jointly organized Sourcing Taiwan for the first time in 2009 with the aim of helping Taiwan recover from the economic meltdown caused by the 2008 global financial tsunami.

Last year's event took in US$4 billion in orders from foreign buyers; this year, the figure dipped a bit to US$3.65 billion.

Wang notes that the number of Chinese buyers attending the show this year were up substantially to 113, compared with 75 last year, reflecting the growing importance of the Chinese market to Taiwan's manufacturers.
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Author:Li, Judy
Publication:The Taiwan Economic News
Geographic Code:9TAIW
Date:Apr 7, 2010
Words:606
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