RIYADH, 18 May 2004 — Sheng-tsung Yang, the newly appointed representative of Taipei Economic and Cultural Representative Office in Riyadh, has announced that Japan Fukono Inc. from Taiwan will be investing in the manufacture of medical equipment in the Kingdom with an initial capital of $ 8 million. “ This indicates Taiwan’s desire to extend its investment in the Kingdom,” he observed. Yang, who assumed charge in January this year, expressed his determination to accelerate bilateral relations between the Kingdom and Taiwan in the fields of trade, religion, culture, sports and other bilateral projects during his tenure. Pointing out that their bilateral trade was tilted heavily in the Kingdom’s favor, the ROC Representaive said it stood at $ 4,64 billion last year, with imports of crude oil and related products from the Kingdom alone valued at $ 4.2 billion, while ROC exports accounted for $ 260 million. He said that as part of a vigorous drive to boost its exports, ROC companies participated in the GITEX,show, while a 43- member delegation will also be arriving in the Kingdom Thursday on a two-week-long visit covering Jeddah, Riyadh, Kuwait, Muscat (Oman) and Amman (Jordan).
In the economic field, he pointed out, a landmark event was the signing of a Memorandum of Understanding (MoU) in Geneva on Dec. 17 committing ROC’s support to Saudi Arabia for the membership of the WTO. Ambassador Sheng said Taiwan is also interested in joint ventures, particularly in the petrochemical sector. He cited the successful partnership between Saudi Basic Industries Corporation (SABIC) and Taiwan Fertilizer Co. in the Al-Jubail fertilizer project, in which Taiwan alone has invested $ 750 million. “It is a shining example of our bilateral relations. The fertilizer project made a profit of $ 40 million last year,” he added.
Explaining ROC’s efforts to reach out to Saudis through cultural understanding , Ambassador Sheng said two ROC students had enrolled at King Saud University for a two-year course in Arabic studies. In other areas of cultural interaction between them, two students landed the first and third prize in physics respectively at the International Science Fair held in Taipei last year. The Saudi Ministry of Education also took part in the fair again this and won the third slot. “Saudi Arabia entered nine contestants for the First World Disabled Bowling Championship that was held in Taiwan from April 1 to 7. In addition, Saudi Arabia also dispatched 30 pieces of selected children’s drawings for the “34th World Children Drawing Exhibition’.
Of these drawings, one was awarded a medal and 14 others were noted as excellent works, “ he observed.
Yang pointed out that he would promote mutual exchange of visits of high-ranking officials, professors and students between Taiwan and Saudi Arabia. Prince Talal ibn Bandar ibn Saud , president of the Saudi Basketball Federation will be invited to visit to Taiwan to reinforce the sport exchange cooperation between them In other areas of cooperation, the Kingdom has sent two Saudis for teaching Arabic language at the National Chengi University. And last month, Dr. Abdullah Al-Turki, secretary general of the Muslim World League, led a Saudi delegation to the International Islamic symposium in Taipei. During his stay in Taipei, Dr. Al-Turki also met with some professors of National Chenghi University to explore the possibilities of setting up an Islamic Studies Research Center at the university for promoting a better understanding of Islam.