Taiwan to Organize Textile, Bicycle Trade Fairs in Vietnam

The Taiwan External Trade Development Council (TAITRA) said it is planning to organize textile and bicycle trade fairs in Vietnam’s major cities to help Taiwanese businesses expand their market shares in Vietnam, whose major export items are garments, fishery products, shoes, rice and crude oil. .

 

TAITRA spokesman said on May 9 that Taiwanese entrepreneurs have a niche in Vietnam's market because they have invested there for years. He added that Taiwan is Vietnam's top foreign investor, third largest import source and ninth largest trading partner.

 

He added that Vietnam has been the fastest growing country in Southeast Asia in recent years, with an average annual growth rate of 7 per cent.

 

The spokesman said Taiwan has, over the past decade, played a more important role in boosting Vietnam's economic development than Japan, South Korea and the US, adding that Taiwanese products have a good reputation and market acceptance among Vietnamese consumers. He said Taiwan-funded companies have the right growth potential in Vietnam.

 

Earlier this month Taitra deputy secretary-general Yeh Ming-shui headed a trade promotion group visiting major Southeast Asian countries. Yeh said the group received a warm response from Vietnamese entrepreneurs during its stop in Vietnam.

 

According to Vietnam’s General Statistical Office (GSO), between January 1 and April 22 this year, Taiwanese businesses poured US$55.68 million into 31 projects in Vietnam.