Taiwan to benefit from order transfers as China’s output drops

Interest in Taiwanese products has spiked as Wuhan virus forces China to cut its production capacity

(Facebook, TAITRA photo) 

(Facebook, TAITRA photo) 

TAIPEI (Taiwan News) — As the coronavirus disrupts the global supply chain centered on China, Taiwan could fill in to become a major supplier as foreign companies show increasing interest.

According to the Taiwan External Trade Development Council (TAITRA), the website Taiwantrade.com has been inundated with quotation requests from overseas companies since the Wuhan virus (COVID-19) surfaced. It is an indication that international buyers are seeking new suppliers to make up for the expected plunge of production capacity in China.

Taiwantrade is the country’s largest business-to-business platform operated by TAITRA. The government-sponsored agency has launched a “digital phoenix program” as well as provided networking opportunities for Taiwanese firms, wrote CNA.

Its efforts involve ramped up promotion of Taiwanese brands overseas, virtual reality-based showcases of products and factories at times of reduced trade expos, shipment fee subsidies for cross-border sales, and collaborations with e-commerce giants including Amazon, eBay, and Rakuten.

Over 10,000 companies are expected to benefit from the scheme, according to TAITRA. Other measures to help drive digital transformation for local firms include one-on-one consultation and comprehensive examinations of their global marketing strategies.