Taiwan, Kingdom enjoy excellent ties

Author: 
Rudy C. Estimo Jr. | Arab News
Publication Date: 
Fri, 2008-10-10 03:00

As Taiwan celebrates its 97th anniversary today, it is enjoying excellent bilateral ties with the Kingdom, which has just celebrated the Eid Al-Fitr festival at the end of the month-long fasting during Ramadan.

“I’d like to extend my heart-felt greetings to the Custodian of the Two Holy Mosques King Abdullah ibn Abdul Aziz and his people on the occasion of the holy month of Ramadan and the Eid holidays which have just ended,” said Mr. Sheng-tsung Yang, Representative of the Taipei Economic and Cultural Representative Office.

He also said that he “admired King Abdullah for his initiatives in conducting the International Islamic Conference for Dialogue on June 4-6, 2008 in Makkah, and the International Conference for Dialogue on July 16-18 in Madrid, Spain.

“We believe that through objective dialogue, men can achieve understanding, cooperation and world peace. We also believe that through cooperation for the promotion of values, we can secure the right of all to live within a happy family,” Yang said.

He said that Taiwan cherishes its friendly relations with the Kingdom in various fields, adding that “we’re going to continue and nurture such relationship in the future.”

The ties binding Taiwan and Saudi Arabia are strengthened by the fact that the former has 60,000 Muslims with six mosques.

The Taiwanese Muslim Association sends annually sends delegations for the yearly pilgrimage to Makkah.

“We believe that Muslims and all humankind can secure cooperation, stability and peace among all world communities who have different creeds and cultures,” Yang said.

Taiwan, with a 23-million population, is the world’s 17th largest economy with a GNP of US $395.8 billion in 2007.

It is also the 16th largest trading nation with foreign trade valued at $465.9 billion in 2007.

One sector in which Taiwan and Saudi Arabia enjoy robust collaboration is trade.

In the first eight months of 2008, the two-way trade volume reached $12.78 billion. Taiwan’s exports to the Kingdom shot up to $651 million, up 27.5% over the same period last year; while Saudi exports to Taiwan stood at $12.124 billion, up 90% from the same period in 2007.

Total bilateral trade during that year amounted to $11.15 billion, representing a growth rate of 8.3% over 2006. Of this figure, Taiwan’s imports from Saudi Arabia totaled $10.41 billion, up 6.7% compared to the previous year, while Taiwan’s exports to Saudi Arabia amounted to $730 million, up 38% from 2006.

At present, Saudi Arabia is one of Taiwan’s largest trading partners, being the 5th largest source of imports and 32nd largest export destination.

He pointed out that for a long time, Saudi Arabia has been Taiwan’s No. 1 source of crude oil imports.

Last year, Taiwan imported $9.48 billion worth of crude oil from Saudi Arabia., accounting for 21.8% of Taiwan’s total imports from abroad. Other major imports from Saudi Arabia include organic chemicals, plastic and raw materials, copper, aluminum and granite.

The two countries also have ongoing cooperation in various sectors.

In petrochemicals, Taiwan and Saudi Arabia, through Saudi Basic Industries Corp. (SABIC), have launched a joint venture firm called Al-Jubail Fertilizer Co.

In the petrochemical construction field, the Taiwanese firm CTCI is also doing well for Saudi Kayan EO/EG Project in Al-Jubail Industrial Complex ll at a cost of $500 million.

In terms of human resources development, hundreds of Saudi technicians have been trained in Taiwan to upgrade their skills.

On cultural and academic exchange, the King Abdullah University of Science and Technology (KAUST) undertook a “global research partnership project” with the National Taiwan University.

Indeed, the ties binding the two countries have been growing over the years. It is part of the goal of Taiwan to be friendly with every nation, and be part and parcel of the world community.

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