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Chinese delegation orders US$1 billion in goods

2012/08/11 19:22:04

Taipei, Aug. 11 (CNA) A trade mission from China has placed US$1.13 billion worth of orders with Taiwanese businesses as a result of procurement forums organized Friday by Taiwan External Trade Development Council (TAITRA).

Representatives of more than 20 Chinese companies, including China's largest PC maker Lenovo Group Ltd., held meetings with some 80 Taiwanese firms.

In addition, 62 businesses from both sides took part in 122 discussions on investment cooperation.

TAITRA said US$3 billion worth of follow-up orders for electronics and around US$80 million for agricultural products can be expected.

The delegation, led by China's Vice Minister of Commerce Jiang Yaoping, comprises representatives of about 60 Chinese firms and four business associations in the electronics, contractor, poulty and textile sectors, according to TAITRA.

Jiang said that the investment protection pact inked Thursday between China and Taiwan was a good start toward deepening bilateral economic cooperation.

The two sides can now progress to negotiations on the follow-up to their 2010 Economic Cooperation Framework Agreement and focus on greater trade liberalization, Jiang said.

China will also study measures to encourage its companies to invest in Taiwan, he said.

Increased cross-strait cooperation in the sectors of manufacturing, services, medical care and cultural creativity should be promoted, Jiang said. Taiwanese firms are also encouraged to invest in emerging Chinese industries such as energy conservation and environmental protection, he said.

The Chinese delegation, which arrived in Taiwan on Wednesday, was scheduled to attend more trade meetings Saturday in Kaohsiung City, southern Taiwan, before returning to China on Monday.

Jiang, who has been China's vice minister of commerce since 2008, led a trade mission to Taiwan for the first time in July 2011, which resulted in six cooperation agreements and about US$2.5 billion worth of orders for Taiwanese products.

(By Wu Chin-chun and Maia Huang)