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Taiwan to open trade office in India

Reuters  |  NEW DELHI 

By Kumar

(Reuters) - will next month open a trade office in New Delhi, part of its efforts to expand business ties with Asia's third largest economy amid China's insistence on One policy, a senior Taiwanese said on Tuesday.

As and do not have a diplomatic relationship, the trade office in is expected to provide services to Indian and Taiwanese companies to expand business.

India's bilateral trade with the island-nation is expanding steadily touching $6.3 billion in 2017, up a quarter on the previous year.

"We don't have government to government relationship with India," Walter M.S.Yeh, of External Trade Development Council, a trade promoting body set up by the government and industries, told

In an interview, Yeh said the trade office would help expand bilateral trade, expected to grow 20 percent a year. Indian partners and industrial chambers could help deal with policy matters.

Over 100 Taiwanese companies would showcase their technologies including in electric cars, and at the first-ever Expo, a trading exhibition, to be organised on May 17-19 in New Delhi, he said.

Expos were organised in Indonesia, Vietnam, and in 2017, deepening ties across the board with the ASEAN markets.

and Indian business cooperation had become particularly active in the past 2-3 years.

Since 2000, Taiwanese companies have invested just $287 million in But expects this to go up once Taiwan's Foxconn, and a key supplier to Apple Inc, puts an earlier announced $5 billion investment into

Both the countries are gradually warming though has yet to react officially.

Last year, brushed off protests from over the visit of a three-member Taiwanese parliamentary delegation, saying the trip was not a formal one.

On lack of diplomatic relations, Yeh said "That doesn't matter because the trading partners don't need to talk about We are talking about business cooperation."

(Reporting by Kumar; Editing by Richard Balmforth)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 19:56 IST
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