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Taiwan to boost exports to Japan via business matching

2012/05/12 09:48:14

Taipei, May 12 (CNA) A first-ever Taiwan-Japan business matching event is scheduled to take place on May 15, as part of efforts to boost the trade volume between the two countries, according to Taiwan's trade promotion body.

Nearly 50 large Japanese enterprises, including Toyota Tsusho Corp., Kobe Bussan Co. and Daiwa House Industry Co., are expected to buy products from some 300 Taiwanese businesses during the event, the Taiwan External Trade Development Council said in a statement.

Although it is hard to predict how much business the event can generate, the council expressed optimism about the outcome as Japan has been raising its ratio of overseas procurement amid the rising Japanese yen.

The procurement items will include food, flowers, auto parts, electronic components, machinery and building materials.

Matching businesses with complementary needs is also part of the government's efforts to boost Taiwan's exports, as the country's exports in the first four months of this year fell 4.7 percent from last year at US$96.37 billion.

Japan has always been one of Taiwan's most valued markets, Chao Yung-chuan, the council's secretary-general, said.

It is Taiwan's second biggest trade partner, with bilateral trade exceeding US$70 billion in 2011.

During the same year, Japan was Taiwan's fourth largest export market after China, Hong Kong and the United States. Taiwan's exports to Japan totaled US$18.23 billion, accounting for 6 percent of the Taiwan's total exports, according to government statistics.

(By James Lee)