Mainland China and other emerging markets are being targeted for development as part of an ROC government strategy to achieve 10-percent growth for Taiwan exports in 2012, according to the Ministry of Economic Affairs.
“The global economy has undergone a major reshuffle in light of the European sovereign debt crisis, with mainland China and emerging markets taking over as the main growth drivers going forward,” MOEA Minister Shih Yen-shiang said Dec. 26.
Citing statistics produced by think tank IHS Global Insight, Shih said emerging market economies are forecast to grow 5.2 percent next year amid a lackluster global average of 2.4 percent.
Shih said there are an abundance of infrastructure projects in these growth markets that stand to benefit Taiwan businesses. The MOEA plans to work with the private sector to help more firms access these potential-laden opportunities, he added.
The minister made the remarks during a forum organized by the Taiwan External Trade Development Council (TAITRA) in Taipei, where six local outfits shared their successful experiences in developing business in Central and East Europe, Latin America and Southeast Asia.
The event attracted more than 1,300 business representatives eager to expand operations across the strait and make inroads into other new markets. TAITRA also arranged one-on-one sessions for around 800 participants on global marketing strategies.
TAITRA Chairman Wang Chih-kang, who described the Taipei forum an important venue for participants to exchange ideas on public-private collaboration, said his organization has been stepping up efforts to help local firms diversify their markets since the 2009 financial tsunami
As part of this commitment, TAITRA established two associations for businesses eyeing these markets in March, with membership now exceeding 10,000 local companies.
“We will also organize more than 70 major events in these areas next year to showcase Taiwan’s quality products and create business opportunities for local firms,” he said. (JSM)
Write to Meg Chang at meg.chang@mail.gio.gvo.tw