Taiwan is seeking to expand trade and investment exchanges with Turkey, Deputy Minister for Economic Affairs Lin Sheng-chung said April 15 after returning from an official three-day visit to the republic.
“We hope this ice-breaking visit will open a new channel of communication between the public sectors of both countries,” Lin said. “Aside from its potentially huge domestic market, Turkey is an ideal location for Taiwanese firms to make inroads into the Islamic world.”
Lin, who headed the visiting delegation comprising officials from the Ministry of Economic Affairs and representatives of Taiwan’s leading industries, met with Turkey’s Foreign Economic Relations Board and a number of government agencies.
“Both countries possess complimentary advantages in automotive parts and components, biofuel, information communication technology, light-emitting diode production and solar energy,” Lin said. “These are ideal sectors for investment by Taiwanese firms.”
The minister also said that he discussed the possibility of establishing Taipei-Istanbul direct flights and the granting of visa-free entry for ROC nationals. “The response we received on these matters is positive and encouraging,” he added.
The MOEA delegation took place in conjunction with an investment promotion tour organized by the Taiwan External Trade Development Council (TAITRA).
According to TAITRA, 750 one-on-one business sessions between 56 Taiwanese firms and 298 Turkish buyers generated US$4.5 million worth of business, with US$19.3 million expected in follow-up deals.
Ministry of Finance statistics reveal that trade between the two nations reached US$1.62 billion in 2010, with Taiwan’s exports totaling US$1.44 billion. The largest outbound investment is a US$60 million PC assembly plant by Foxconn Technology group in the northwestern industrial city of Corlu. (JSM)
Write to Meg Chang at meg.chang@mail.gio.gov.tw