TAIPEI, Taiwan - The Taiwan External Trade Development Council (TAITRA) is planning to hold textile and bicycle trade fairs in Vietnam to create opportunities for Taiwanese businesses, a spokesman said yesterday.
Noting that Japanese scholar Dr. Kenichi Ohmae predicted recently that Thailand, Vietnam, and Turkey - commonly known as "TVT" - will be the next region to enjoy fast growth and development, the TAITRA spokesman said Taiwanese entrepreneurs have a niche in Vietnam's market because they have invested there for years.
According to the spokesman, Vietnam is the fastest growing country in Southeast Asia in recent years, with an average annual growth rate of 7 percent. Taiwan is Vietnam's top foreign investor, third largest import source and ninth largest trading partner.
Over the past decade, Taiwan has played a more important role in bolstering Vietnam's economic development than Japan, South Korea and the United States, the spokesman said. Claiming that Taiwan-made products have a good reputation and market acceptance among Vietnamese consumers, the spokesman said Taiwan-funded companies have a right growth potential in Vietnam.
TAITRA Deputy Secretary-General Yeh Ming-shui headed a trade promotion group to visit major Southeast Asian countries earlier this month, inviting business executives to visit Taipei's major professional trade fairs and purchase high-quality Taiwan made machinery and production equipment. Yeh said the group received a warm response from Vietnamese entrepreneurs during its stop in Vietnam.
To further boost bilateral trade and investment, Yeh said TAITRA will organize textile and bicycle trade fairs in major Vietnamese cities to help local companies expand their market shares in Vietnam, whose major export items are garments, fishery products, shoes, rice and crude oil.
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