Taiwan Expo 2023 Expected to Generate US$48 Million Bilateral Trade
KUALA LUMPUR, July 3 (Bernama) -- Taiwan Expo 2023, which focuses on further enhancing economic ties, trade, and investment relations between Malaysia and Taiwan, aims to generate US$48 million in bilateral trade this year.
Taiwan External Trade Development Council (Taitra) deputy executive director of market development Tiffany I.C. Chen said the expo organiser is expecting 20,000 visitors at the three-day event that will be held from Aug 24 to 26.
“We highlight some exhibition themes, namely Industry 4.0 (IR4.0), the circular economy as well as smart solutions and smart net codes, all in line with Malaysia's policy to promote IR4.0 to facilitate manufacturing in Malaysia,” she said at a press conference on Taiwan Expo 2023 on Monday.
She added that Malaysia is the only country that holds the Taiwan Expo every year and that this is the first time they have conducted a physical exhibition since the Covid-19 pandemic.
“Malaysia is probably the most popular choice for Taiwanese companies and manufacturers.
“This year, there are more than 160 exhibitors participating in 220 booths, and I can say that after we hold this event every year, whether it is online or in person, the satisfaction level is the highest in the questionnaire survey we do every year,” she said.
Chen also said Malaysia plays an important role as a trading, manufacturing and information technology (IT) hub in Southeast Asia.
“For Malaysia, it is the only country in Southeast Asia that has done this expo seven times consecutively.
“That is why it has been held every year, and it is very holistic, not just from the perspective of IT, but also from the perspective of arts and culture, tourism, and many more,” she added.
Meanwhile, the representative of Taipei's economic and cultural office in Malaysia, Phoebe Yeh said Taiwan and Malaysia have long been vital trade and investment partners.
“For example, in 2022 our bilateral trade amount reached a historic high. The growth rate has reached 36.2 per cent, with a total value of US$36.6 billion, which makes Taiwan Malaysia's fifth largest trading partner, and in return, Malaysia is Taiwan's eighth largest trading partner.
“Taiwan's investment in Malaysia as at end-2022 had reached US$14 billion, making Taiwan the eighth largest foreign direct investor in Malaysia,” she said.
-- BERNAMA
