August 20, 2016

Taiwan firms eye Myanmar for auto parts, machinery, electronics

Taiwanese companies are preparing for a trade show in Yangon showcasing Myanmar’s market potential for auto parts, machinery and electrical equipment, an organizer of the event said Saturday.
The three-in-one trade show aims to bring together firms from Taiwan, Myanmar and a host of other countries, Ms Rachanee Su from Taipei World Trade Centre Co., Ltd told The Global New Light of Myanmar.
“Since Myanmar is the growth hub of Asia and tipped to become the factory nation of the world, the country must embrace advanced industry and know-how to get there,” she said.
According to the TWTC, the number of Taiwan companies in Myanmar has doubled in the last three years to 300. Many are building factories here, Ms Rachanee Su said.
TWTC Chairman Mr Francis Kuo-Hsin Liang said Myanmar-Taiwan trade grew 20 percent last year to reach U.S. $322 million.
“With the opening of Myanmar’s Taipei Trade Office last month, we believe these three exhibitions will further enhance our friendship and trade,” He said.
Ms Rachanee Su estimated more than $300 million in Taiwanese capital has been invested in Myanmar.
Mr Michael Yeoh, director of the Taiwan Trade Centre Yangon, said one-on-one meetings established via the event were likely to generate more than $24 million in business.    The trade show, encompassing three exhibitions —Auto Expo Myanmar 2015, Myanmar International Machine Tool & Automation Exhibition 2015, and Power Myanmar 2015 —will run for four days at Myanmar Event Park from 22 July.


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