JEDDAH, 9 May 2004 — Saudi Arabia’s ongoing policy of liberalization and privatization has drawn a big Taiwanese business delegation, which began its visit with a meeting at the Jeddah Chamber of Commerce & Industry yesterday. “We’ll be touring across the Kingdom to explore the investment sector that is opening up,” Chih-Peng Huang, leader of Taiwan’s 52-member delegation that represents 44 companies told Arab News. Taiwan business delegations have been coming here every quarter, but this is one of the biggest delegations that will also study new joint venture and trade prospects,” said Huang, also director general of the Taipei-based Bureau of Foreign Trade Ministry of Economic Affairs.
Organized by the Taiwan External Trade Development Council, the delegation represents sectors like machinery, IT, high technology equipments, food processing, electric and electronic appliances, medical equipments, industrial hardware, computers and accessories, rubber products, auto parts and accessories, furniture, building materials, machine tools, air compressors and plastic products.
Taiwan’s trade with the Kingdom increased by 69.12 percent to $4.64 billion in 2003. The Kingdom’s exports to Taiwan amounted to $4.28 billion, plus 77.68 percent over 2002, while Taiwan’s exports to the Kingdom rose by 6.4 percent to $361.07 million. The Kingdom has thus become Taiwan’s largest trade partner in the Middle East.
Huang said Taiwan was now the world’s third largest producer of IT hardware, after the United States and Japan.