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Taiwan, India can capitalize on complementary strengths: CIER

2012/07/24 17:04:35

Taipei, July 24 (CNA) Taiwan's strong manufacturing capabilities and India's prowess in software development offer an ideal platform for cooperation between the two countries, the president of Chung-Hua Institution for Economic Research said Tuesday.

Taiwan's strength in manufacturing could make up for India's weakness in the area, and what Taiwan lacks in terms of software development could be supplemented by India, said Wu Chung-shu at an international conference on the prospects for economic cooperation between the two countries.

Wu said India is also hoping to expand the reach of its organic farming sector to international markets and would like to find ways to distribute its produce in Taiwan.

Some in Taiwan may question whether India's organic farming methods would meet Taiwan's standards, but that could be solved through strict pesticide residue inspections, Wu said, noting that Taiwan's produce could also be exported to India.

The economist pointed to countries in the Association of Southeast Asian Nations (ASEAN) as also having attributes thatcomplement Taiwan's market.

Taiwan's well-developed machine tool, plastic, and textile companies, for example, could fill voids in ASEAN markets, he said.

(By Lin Hui-chun and Ann Chen)