Sourcing Taiwan 2014 to Generate Business Opportunities of Over US$5B. for Taiwanese Suppliers

Sourcing Taiwan 2014, a matchmaking event initiated by the Ministry of Economic Affairs and annually organized by Taiwan External Trade Development Council, a semi-official export promoter, to connect Taiwanese suppliers with global buyers, opened March 27 in Taipei and is expected to generate business opportunities exceeding US$5 billion, driven by recovering global economy.

Officials say that of the 630 invited foreign buyers from over 60 countries, 26 are noted for annual revenue of over US$5 billion along with 200 with turnover of more than US$100 million, who are mostly interested in Taiwan-made machinery, ICT (information and communication technology)-based devices, food, and agricultural products.

This year’s Sourcing Taiwan was notable for drawing the largest-ever number of globally influential buyers, including Wal-Mart of the U.S., Huawei of China, TOTO and Mazda of Japan, Future Electronics of Canada and Campagnolo of Italy.

A number of Taiwan’s heavyweight enterprises from various sectors participated, including AU Optronics Corp. (display panels), Acer Inc. (PCs), First International Computer Inc. (motherboards, servers and PCs), Lioho Machine Works Ltd. (auto parts and components), Tatung Co. (household appliances), Taiwan Sakura Corporation (water heaters, kitchen hoods, dish dryers and electric appliances), TECO Electric & Machinery Co., Ltd. (motors and household appliances), and so forth.

According to the organizer, 128 buyers came from the ASEAN (Association of Southeast Asian Nations) bloc, up 58% from 81 last year, and included a 32-buyer group organized by the Union of Myanmar Federation of Chambers of Commerce & Industry and a six-buyer group by Lao National Chamber of Commerce and Industry. Meanwhile, the event also drew eight buyers from New Zealand and 15 from Singapore, indicating that Taiwan’s efforts on forging economic cooperation agreements with the two countries are gradually paying off. (SC)