First Taiwan Procurement Week Generates US$370M. in Business

Taipei, Oct. 24, 2012 (CENS)--To promote Taiwan's exports, Taiwan External Trade Development Council (TAITRA), the government-backed trade promoter, invited 225 buyers from 23 countries to attend the “Taiwan Procurement Industry Cluster Week,” the first of its kind organized by TAITRA held Oct. 15-19 in major cities in northern, central and southern Taiwan, generating business opportunities of an estimated US$370 million or about NT$10.8 billion.

Some 1,800 one-on-one trade talks were held between invited foreign buyers and 740 domestic manufacturers.

TAITRA said that the buyers came mainly from Japan, China, South Korea, Vietnam, Malaysia, Brazil, Peru, and the Middle East, which placed orders with local manufacturers mainly in electronics, information & communication technology, steel & iron, frozen food, bicycle, machinery, hardware & hand tools, auto parts, and biotechnology.

Major buyers of the procurement week included Marathon Electric India, Ciser of Brazil, Vinamit JSC of Vietnam, KAS Metal of Turkey, and Piau Kee Live & Frozen Seafoods SDN BHD of Malaysia.

The event has motivated Japanese buyers to reportedly place orders valued at US$210 million with Taiwanese manufacturers in the coming year, believed to be the highest among counterparts.