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Taiwan chooses Malaysia as strategic trade ally

Taiwan chooses Malaysia as strategic trade ally

05 Aug 2021

The global supply chains require a plan following the pandemic and China-US trade wars, says TAITRA chairman

Malaysia’s key location as the manufacturing hub in the region has made it a strategic ally for Taiwan.

Taiwan External Trade Development Council (TAITRA) chairman James Huang said the global supply chains require a restructuring plan following the pandemic and trade wars between China and the US that have disrupted the global supply chain.

These incidents have positioned Malaysia among important locations for a sustainable supply chain network.

“Malaysia’s role as a strong electronic machinery and semiconductor manufacturing base coupled with its key strategic location as the manufacturing centre of South-East Asia makes it an important strategic ally.

“We hope that Taiwan Expo will generate greater economic benefits for bilateral trade relations between Taiwan and Malaysia,” he said during the launch of Taiwan Expo in Malaysia 2021 yesterday which is being held virtually for the second year.

Taiwan’s Ministry of Economic Affairs Bureau of Foreign Trade DG Cynthia Kiang said now is an opportune time for both countries to establish a resilient supply chain which could benefit both parties in the long run.

“Taiwan is great in smart manufacturing and the information and communications technology industry. If both sides can cooperate, this will speed up the process of the fourth industrial revolution (IR4.0) in Malaysia,” she said during the launch.

As the pandemic has pivoted most business strategies online, Kiang added that efforts in promoting e-commerce platforms in both countries should be enhanced to match the accelerating demand for digitalisation.

The Taiwan Expo has garnered the attention from over 200 Malaysian businesses with more than 1,000 registrations for online business matchings. Among the buyers include BIG Pharmacy Healthcare Sdn Bhd, myNews Retail Sdn Bhd and Intercon Sdn Bhd.

This year’s expo features the new 3D online exhibition hall to provide visitors an experience almost similar to a physical exhibition.

Interested participants are required to register as a member of TAITRA to access the virtual exhibition hall and its features.

In addition to the online business matching sessions during the three-day period from Aug 4 to Aug 6, 2021, the exhibition will be live for a month for those who are unable to attend it.

The expo focuses on six major pillars namely electronic mobility, post-pandemic era, IR4.0, Taiwan lifestyle products, tourism and culture, as well as halal Taiwan.

It also includes a special collaboration with 10 Malaysian companies that sell Taiwanese products such as online shopping platforms Hawooo, Youbeli, Shiny and Go Leaf; skincare brands including Natural Beauty and Forest Beauty; electronics specialist BrightStar; as well as food and beverage stores such as The Alley, Devil Chicken and Taiwan’s One Township One Product.

The expo is organised by the Bureau of Foreign Trade, and is supported by 15 local associations including the Federation of Malaysian Manufacturers.

Source: The Malaysian Reserve