Malaysia-Taiwan trade set to rebound
TRADE
and investment between Malaysia and Taiwan are expected to rebound this year,
driven by improvements in the global economic conditions and the economies of
both countries.
Minister in the Prime Minister's Department Tan Sri Dr
Koh Tsu Koon said last year bilateral trade between both countries softened due
to the global economic uncertainty, while investment from Taiwan took a dive.
In
2011, Taiwan was Malaysia's fourth largest investor after the US, Japan and
Singapore, ploughing in US$400 million (RM1.22 billion). The investment,
however, dived to US$56 million last year.
Koh declined to give an investment target for this
year but officials said it may rebound to touch US$100 million.
The
minister said Taiwan has invested US$11.6 billion in Malaysia since the 1980s
and it is important that both countries continue the enterprising spirit.
"Taiwan
has always been known for its fighting spirit and Malaysia can learn from
Taipei to strive together," Koh said here yesterday after launching the
19th World Taiwanese Chamber of Commerce semi-annual conference.
Koh represented Prime Minister Datuk Seri Najib Razak
at the conference, which was attended by over 600 Taiwanese businessmen from
all over the world.
He
said Taiwan has always been strong in electrical and electronics, machinery,
precision moulding and engineering, but lately it has diversified into
aquaculture, furniture and food processing - including halal food.
He
added that Kuala Lumpur-Taipei trade is set to strengthen further as Malaysia
is the gateway to many markets in Southeast Asia and Asia.
"Malaysia is fast gaining prominence to become
the operational headquarters for many firms due to its multilingual and
multicultural advantage, giving it a competitive edge," said Koh.
The World Taiwanese Chamber of Commerce has more than
40,000 members and 174 regional chambers of commerce located in 68 countries.
It is aimed at encouraging collaboration among Taiwanese businesses
internationally.
Source: Business Times
Date: 09 April 2013
Afternoon
Highlight (09/04/13/58/756)
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