Taiwan-Malaysia trade expected to grow 10% in 5 years

By BERNAMA

BILATERAL trade between Malaysia and Taiwan is expected to grow at least 10% within five years from now, according to recent economic forecasts.

In 2018, trade between the two countries recorded a growth of 22.1% valued at US$23.73 billion (RM98.16 billion).

Taipei Economic and Cultural Office in Malaysia economic division director David Hsu (picture) said in the first five months of 2019, Malaysia’s exports to Taiwan reached US$4.1 billion, while Malaysia’s imports from Taiwan hit US$3.8 billion.

“Trade between the two countries is getting higher and growing steadily every year, which is a really good sign for current and further investments,” he told Bernama during the Taiwan Excellence Pavilion (“Modern Living — Honouring Taiwan’s Innovation”) in conjunction with the 20th International Architecture, Interior Design and Building Exhibition (Archidex) 2019 in Kuala Lumpur yesterday.

He said through all kinds of integrating opportunities, it hopes to introduce some of Taiwan’s greatest companies and products to the Malaysian market.

“We hope to engage both Malaysians and Taiwanese to explore collaboration opportunities to exchange techniques through various expos such as the Taiwan Excellence and Taiwan Expo.

“These are the opportunities for us to introduce our products to Malaysians, and we also welcome Malaysians to boost products such as durians to our country, as the platform is seen as the chance for Malaysians to increase their exports to us,” he said.

Taiwan Excellence, the mark of quality for some of the best products coming out of Taiwan, is participating in this year’s premium architecture exhibition Archidex 2019 from July 3 to 6.

A total of 21 Taiwanese manufacturers across different industries have brought a total of 60 high-quality smart home and city solutions to Malaysia to explore business opportunities.

Taiwan Excellence is Taiwan’s official certification for products that have met and exceeded stringent standards in their research and development, designs, quality, marketing and other aspects of innovation and creativity.

The symbol has been around for 27 years and products are carefully selected each year to bear this mark of excellence.

Meanwhile, Bintronic Enterprise Co Ltd said it wants to share its technology with companies in Malaysia interested in working together to expand the home appliance and smart tech office market.

Taking the example of a motorised roller blind, the company’s sales representative Alice Chao said the product controls the lighting in the building naturally and has been proved to save energy by 25%. — Bernama