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Taiwan, India to explore trade opportunities

2012/08/05 13:57:02

Taipei, Aug. 5 (CNA) Entrepreneurs and economists from Taiwan and India will discuss business opportunities at a seminar in Taipei on Monday in a bid to boost bilateral trade.

The seminar, co-hosted by Taiwan's Bureau of Foreign Trade and British banking group Standard Chartered Plc, will invite a number of successful corporate executives to speak on operating businesses in India.

Indian attendees will include Sharad Mahendra, senior vice president of India's No. 3 steelmaker JSW Steel, and Raj Easwaran, managing director of Indian electrical and electronics manufacturer Easun Group.

Representatives from Taiwan's electronics equipment maker Delta Electronics Inc. and personal computer brand Asustek Computer Inc. will also take part in the seminar.

In addition, Deputy Economics Minister Cho Shih-chao and Pradeep Kumar Rawat, director general of the India-Taipei Association, will speak at the opening of the event.

Jaspal Bindra, group executive director and a member of the board of Standard Chartered, will also deliver a keynote speech entitled "The future of global trade."

On May 9 this year, Taiwan's Bureau of Foreign Trade signed a memorandum of understanding with Standard Chartered -- its first-ever deal with a foreign bank -- to expand the India market through the banking group's international presence.

Standard Chartered is currently the largest foreign bank in India with over 90 branches in 37 Indian cities.

It also has the widest reach among all foreign banks in Taiwan with 88 branches on the island, 80 percent of which are located outside Taipei.

According to the Ministry of Economic Affairs, bilateral trade between Taiwan and India grew 17 percent annually to US$7.56 billion in 2011, the highest since the two sides set up representative offices in 1995.

India now ranks as the 16th largest trade partner of Taiwan, as well as the 15th largest export destination market and the 16th placed import country for Taiwan, the ministry said.

(By Jeffrey Wu)