RIYADH, 22 December 2005 — A 23 percent increase in Taiwan’s exports of industrial machinery to the Kingdom reflects the growing industrialization program in this country.
In a joint interview with Arab News, W.K. Lai, economic counselor at the Taipei Economic & Cultural Representative Office, and John Chen, director of business division at the Taiwan Association of Machinery Industry, said that the trade enquiries at the just concluded Taiwan Machinery Catalog Show in Riyadh shows the same pattern, with Saudi businessmen exploring the possibility of importing machinery relating to food processing, textiles and plastics.
They were speaking on the sidelines of the Riyadh catalog show held at the Riyadh Chamber of Commerce and Industry from Dec. 18 to 20. On display were catalogs featuring products from 108 Taiwanese manufacturers dealing in machine tools, food processing machinery, packaging, plastics, textiles, shoe and leather manufacturing equipment, among others. The road show shifts to the Jeddah Chamber of Commerce and Industry, where it will be held from Dec. 24 to 25. In this context, Chen pointed out that Taiwan’s export of industrial machinery to the Kingdom surged from 0.4 percent to 23 percent of its total exports. The bilateral trade, at $6.5 billion, rose by 38.8 percent in the first ten months of this year. Taiwan’s exports were up by 15.1 percent, while its imports from the Kingdom, at $6.1 billion, registered a 40.7 percent growth last year.
Referring to the brand image of products from Taipei, Lai said the future thrust of development would be in the direction of research and development (R&D).
“Taiwan has very few international brand products. Our government is now paying more attention to promoting its brand image at the international level. All the major companies from Taipei are being asked to set up R&D centers for further improving the quality and image of their products,” the economic counselor observed.
In another development, 300 Saudi students visited Taiwan last year to participate in a technical training program within the framework of cooperation with the General Organization for Technical Education and Vocational Training, he added.