Foreign procurements grow by 138% in first half of year

August 5, 2004

Taiwan External Trade Development Council (TAITRA) reports that 378 foreign enterprises have made procurements in Taiwan in the first half of the year, over three times more than in the same period last year. The value of these foreign procurements has already reached USD 601.2 billion, marking a growth of 138% compared to the USD 252.9 billion in procurements in the first half of last year.

TAITRA plays an active role in bringing foreign and domestic enterprises together, having already arranged 1,646 face-to-face foreign procurement meetings as of the end of June. TAITRA and Ministry of Economic Affairs personnel posted overseas are all active in visiting overseas buyers in order to drum up business for Taiwanese enterprises.

In addition to attracting procurement delegations from such major trading partners as the United States and Japan, TAITRA has also succeeded in drawing delegations from South Asia, the Middle East, Central and South America, and Eastern Europe. In the first half of the year, India has sent 23 procurement teams comprised of a total of 55 enterprises, the greatest number of any single nation. The US has dispatched 36 companies, while Japan has sent ten teams made up of 21 enterprises. Also, ten procurement teams from Morocco have visited Taiwan this year, and procurement delegations have come from Turkey, Brazil and Russia.

TAITRA statistics reveal that, of the overseas buyers that have made procurements in Taiwan this year, most, 99, placed orders mainly for machinery. Computer software, hardware and peripherals were also popular procurement products, with 51 companies making such procurements. There were also 61 companies making procurements of automobiles and motorbikes and their related parts and components. These figures reflect that foreign procurement teams are still attracted to Taiwan's more competitive products.

(Economic Daily News)

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