Taiwan Trade-Promoting Group Visits East Europe

Taipei, Nov. 15, 2012 (CENS)--With economic growth cooling in China and sagging demand in the U.S. and West Europe, the Ministry of Economic Affairs (MOEA) and Taiwan External Trade Development Council (TAITRA) jointly organized a trade promoting group early this month to go to East Europe including Russia, Romania, Ukraine, and Serbia.

Composed of 46 members including officials and manufacturers, the group just returned to Taiwan this week and reportedly created business opportunities worth US$40.23 million or about NT$1.165 billion.

Serbia had not been visited by a Taiwanese trade group in 20 years and was the first stop, where TAITRA organized 217 one-on-one meetings between suppliers and over 120 businessmen to create business potential of about US$5.395 million.

Romania was the next destination and saw the largest trade group ever. TAITRA set up 591 one-on-one meetings that attracted 182 buyers, generating trading value of US$17.54 million.

Russia is the largest member of the Commonwealth of Independent States (CIS) and Ukraine the second largest in terms of population. The former is Taiwan's 25th largest export market taking a share of 0.49%. The group focused on St. Petersburg, Russia's second largest city, and took part in 172 one-on-one meetings with 53 buyers, creating business opportunities of US$10.53 million.

Ukraine has 45 million people to be a potential market. TAITRA organized 266 one-on-one trade talks between group members and 110 buyers, generating business valued at over US$6.76 million.