RIYADH, 21 May — Faced with a mounting trade deficit vis-a-vis the Kingdom, Taiwan has fielded a 16-member delegation — claimed to be the biggest among the overseas exhibitors — for the Saudi Print 2001 which started at the Riyadh Exhibition Center yesterday.
Wei-chieh Wang of Tapei’s Economic and Cultural Representative Office told Arab News that of the $3 billion two-way trade last year the Kingdom enjoyed a trade surplus with its $2.2 billion worth of exports to Taiwan last year. ROC imports one-third of its oil needs from the Kingdom.
“There is a need for balanced trade between the two countries. Thirty trade delegations have visited the Kingdom during the last three years as part of ROC’s drive in this direction,” Wang said recently.
He said besides trade, new opportunities were opening up in the areas of tourism and investment. “I have been working closely with Prince Sultan ibn Salman, secretary-general of the Higher Tourism Authority, arranging group visas for tourists from Taiwan.”
Six million Taiwanese tourists travel abroad annually, Wang said, adding that this presented a good opportunity for the Kingdom. In fact, two travel agents have already been to Jeddah to organize a package tour to Saudi Arabia either in October or November.
Wang said the Kingdom’s economic reforms could stimulate joint ventures between the two sides, especially in the manufacturing sector and at the level of the SMEs (small and medium enterprises). The signing of the joint investment protection treaty between the two sides could pave the way for establishing more joint ventures.
“Taiwan is No. 1 in computer hardware and some major companies like Acer and Leo Computers have strong presence in the Kingdom. I would like to see a computer assembly plant set up here as part of Saudi Arabia’s import substitution program,” he said.
The diplomat said there was a good potential for such a venture, since computer exports accounted for $400 million of Taiwan’s overall exports which stood at $800 million last year.
Another promising area of cooperation was the SMEs sector. He said 80 percent of the industries in ROC were from the small and medium enterprises. Since the situation was similar in the Kingdom, the potential for cooperation in this area was great.
Environmental protection, he pointed out, also offers a platform for cooperation. The starting point of this would be the sorting of solid waste into three categories — plastic, paper and metallic waste. Each category of waste could be recycled into environment-friendly products, he added.
