Taiwan will open an economic and cultural office in Chennai, India, underscoring the growing importance of relations with one of the world’s rising economic powers.
The new facility, which was greenlighted by the Indian government in October after two years of negotiations, is set to be Taiwan’s second representative office on the subcontinent after the Taipei Economic and Cultural Center in New Delhi. It will play a key role in assisting Taiwan businesses, tourists and students in Southern India.
“This encouraging development reaffirms that viable diplomacy as championed by the Ma Ying-jeou administration is paying dividends for Taiwan in expanding the country’s international space,” a Ministry of Foreign Affairs official said Dec. 2.
“We look forward to further advances in what is fast proving to be a highly beneficial relationship for both nations.”
Chennai is India’s fourth-largest city and a key information and technology hub. Formerly known as Madras, the metropolis is home to major Taiwan electronics component producers such as Delta Electronics Inc. and Foxconn Electronics Inc., as well as panel-maker Wintek Corp.
Chennai is the venue of the annual TAITRONICS India, the largest overseas trade show staged by the Taiwan External Trade Development Council (TAITRA) for the island’s electronics sector. Established in 2007, the event has been going from strength to strength with US$18.2 million in contracts inked at last year’s edition, a three-fold increase from 2009.
Ministry of Finance statistics show that trade between Taiwan and India amounted to US$6.47 billion for the first 10 months of 2011, up 26.41 percent year on year.
Another function of the office, the MOFA official said, is to provide emergency assistance for more than 500 Taiwan fishing boats operating in the Indian Ocean and nongovernmental organizations and medical teams based in the region and nearby Sri Lanka.
The office also augurs well for the chances of Taiwan and India agreeing to initiate negotiations on a free trade agreement. Both sides have been conducting a feasibility study into the proposed FTA since February and expect to release results in 2012. (JSM)
Write to Meg Chang at meg.chang@mail.gio.gov.tw