TAIPEI (Taiwan News) — Amid uncertainty over a post-COVID recovery and global inflation, Taiwan is launching a project to find US$480 million (NT$14.5 billion) in business, reports said Thursday (Aug. 25).

The Board of Foreign Trade (BOFT) at the Ministry of Economic Affairs (MOEA) and the Taiwan External Trade Development Council (TAITRA) will mobilize all their overseas offices from September to November to drum up foreign orders, Radio Taiwan International (RTI) reported.

Even though Taiwan’s exports have recorded 25 consecutive months of increases, export orders started a decline in July amid global economic and political uncertainties.

In order to counter the downward trend, which is expected to continue in August, the BOFT and TAITRA plan to launch a buyers’ event for electronics, telecom and smart medical equipment in September, and a “Resilient Supply Chain Partnership Meeting” in November.

While the topics for the September event were still limited, the second meeting would also see the participation of sectors including textiles, machinery, creative industries, and basic infrastructure, said BOFT Director General Cynthia Kiang (江文若). A total of 153 partners from 38 countries ranging from Bulgaria to Malaysia had lined up to participate in the September meet for online discussions, she said, adding that the diversification of Taiwan’s export markets was one of the aims of the events.