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Taiwan trade group to attend Beijing fair to promote service exports

2012/05/08 20:02:52

Taipei, May 8 (CNA) The quasi-official Taiwan External Trade Development Council (TAITRA) will lead Taiwanese businesses in the services sector to a major upcoming international fair in Beijing for trade in services, a TAITRA official said Tuesday.

TAITRA Executive Vice President Walter Yeh said the China (Beijing) International Fair for Trade in Services, the first of its kind, is being jointly organized by China's Ministry of Commerce and the Beijing municipal government.

The trade show, which is expected to be an annual event, is scheduled to take place between May 28 and June 1, he said. Taiwan will have a pavilion at the venue to promote its service sector and attract buyers, he added.

In the pavilion, special sections will be set up to introduce Taiwan's service sector, including the culture and creativity industry, retail services and medical tourism, according to Yeh.

"While putting our products out there, we also want to bring people in," he said.

According to official statistics, the production value of Taiwan's service industry reached some NT$9.4 trillion (US$320.5 billion) last year, accounting for about 70 percent of the country's gross domestic product.

Service sector exports amounted to US$46 billion in 2011, and 58.6 percent of the nation's workforce now works in the service sector, the statistics show.

However, the domestic market is still the major arena for the sector, despite its constant growth in recent years, TAITRA said.

(By Huang Chiao-wen and Elizabeth Hsu)