Walter YEH, President and CEO of the Taiwan External Trade Development Council (center), Nick NI, Chief of Staff of the Bureau of Foreign Trade, Ministry of Economic Affairs (3rd from right), and Board of Directors from associations took a group photo at the opening ceremony of the SOURCING TAIWAN 2019 at the Taipei International Convention Center.
In order to help Small and Medium Enterprises (SMEs) expand into overseas markets and deploy globally, the Bureau of Foreign Trade (BOFT) under the Ministry of Economic Affairs (MOEA) commissioned the Taiwan External Trade Development Council (TAITRA) to hold a series of activities under the SOURCING TAIWAN 2019 in Taipei on September 20th. This comprised the third event in the series. It followed on the heels of the information communication technology, smart cities, and green energy event in April and the hand tool, machinery, and bicycle industries expo in July. This event focused on medical supplies and devices, and cosmetics and consumer goods, which are among Taiwan's competitive industries. A total of 33 countries and 120 buyers were invited to Taiwan to seek purchasing opportunities and attend more than 1200 meetings with Taiwanese businesses for one-on-one conversations.
In this procurement conference, nearly 40% of the buyers were from emerging markets, making it the largest group, while 30% came from New Southbound Policy countries, comprising the second-largest group. Moreover, among the emerging countries, 20% of the buyers were from East European countries, while 10% came from Central and South American and Asian countries. Among the New Southbound Policy countries, buyers from Thailand represented the largest group and mainly purchased medical supplies and devices, and cosmetics. Buyers from Singapore comprised the second-largest group, while those from Myanmar and India equally comprised the third-largest.
According to statistics, a total of 45 buyers from the medical supplies and devices sector was the largest group and mainly purchased devices for healthcare and elderly care assistance, wheelchairs, mobility aids and hospital beds. The second-largest, with 39 buyers, represented the consumer goods sector and mainly purchased sporting goods, textiles, daily necessities, etc., while 36 buyers came from the cosmetics sector. Procurements have already prompted a substantial number of orders for Taiwanese traders; for instance, Russian buyers placed orders with domestic companies to buy acne stickers, and praised Taiwan's prices and quality as very competitive.
Despite the adverse impacts that the US-China trade war has had on Taiwan’s export performance, the BOFT always gives top priority to promoting foreign trade in order to serve Taiwanese companies. The follow-up to this event will be the South Asia Business Day in Taipei on September 30th. It will focus on auto parts, machinery industries, fasteners, and so on, to enable Taiwanese industries to obtain more orders for sales of products abroad.