Taiwanese and Vietnamese businesses hold forum to increase bilateral trade

The Taiwan External Trade Development Council and the Vietnam Trade Promotion Agency hosted a business forum on in Hanoi on April 16

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TAIPEI (Taiwan News) – On April 16 in Hanoi, Vietnam the Taiwan External Trade Development Council (TAITRA) in cooperation with the Vietnam Trade Promotion Agency (VIETTRADE) hosted a formal business networking forum.

Over 500 executives and representatives from companies and associations joined the event to discuss trade and possible cooperative ventures. Representatives from various sectors such as agriculture, energy, cosmetics, and machinery were at the event.

Chening Fan, a manager of TAITRA’s Asia-Pacific Section Market Development Department was quoted by the Vietnam News Agency as saying “Taiwan has a lot to offer Vietnam in terms of its expertise in textile and machinery manufacturing, information technology, and semiconductor production”

Fan also noted car manufacturing and e-commerce as areas that were full of mutually beneficial opportunities for the two countries to cooperate.

The Vietnam News Agency reports that in 2017 Vietnam’s exports to Taiwan increased by nearly 16 percent over the numbers form 2016. Under the Southbound Policy of the Tsai administration, such numbers are likely to grow over the course of 2018.

According to worldexports.com, in 2017 Vietnam was Taiwan’s seventh largest trading partner by value of Taiwanese exports to the country, amounting to US$10.5 billion and 3.3 percent of Taiwan’s total exports.

By facilitating networking and exchange, TAITRA hopes to cooperation in talent cultivation as well as brand building between the two countries in addition to boosting trade opportunities.

According to the report, TAITRA intends to host a bilateral forum in Vietnam on an annual basis to foster business ties and economic exchange.