“The main purpose of the visit is to explore the market for Taiwanese products and strengthen bilateral trade relationship,” W.K. Lai, Taiwan's economic counselor, said on Friday. The delegation will also visit Lebanon on Oct. 24-27.
In Riyadh, trade meetings will be held at the Riyadh Palace Hotel; in Jeddah, at the Red Sea Palace Hotel; and in Lebanon, at the Movenpick Hotel and Resort Beirut.
The delegation representing 28 companies will include Joseph Chen and Bill Liu as leader and deputy leader, respectively.
“Enjoying a steady and stable growth in the past several years, markets in Saudi Arabia and other Middle East countries have become the prime focus for Taiwan's foreign trade and export market expansion,” Lai said.
Taiwan's major exports to Saudi Arabia include car parts, steel products, machinery and equipment, chemicals, ICT and photovoltaic, medical and ICT products, among others.
On the other hand, Saudi exports to Taiwan include oil, petrochemicals, mineral and agricultural products.
According to Taiwan's Customs Bureau, Saudi exports to Taiwan surged 18.8 percent to $9.4 billion for the first eight months of 2011 compared to the same period last year, while Taiwan's exports to the Kingdom during the same period jumped 70.5 percent to $1.1 billion.
Lai said that since the Taiwanese companies belong to different industrial sectors, local buyers would have the opportunity to choose from a wide range of high-quality products.
The products to be presented include hardware and building materials, auto parts, medical and health, ICT and photovoltaic, textiles, food and beverage and home appliances and consumer goods.
