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Taiwan to hold its first industry expo in India in May

IANS  |  New Delhi 

In a bid to expand trade ties with India, will host its first-ever promotional event - Expo - here next month, according to an announcement by the External Trade Development Council (TAITRA), which will also open its office on the occasion.

The private sector body TAITRA has three existing offices in -- in Kolkata, and

Though and Taiwan do not have official diplomatic relations, the two sides have signed the Bilateral Investment Promotion and Protection Agreement in 2002.

TAITRA told reporters here that Taiwan had earlier not paid much attention to owing to factors of distance and lack of understanding of Indian society and culture.

However, India's recent economic reforms and its impressive economic growth had made Taiwanese companies understand the importance of India, he said.

As of the private trade promotion body, Yeh has led as many as seven business delegations to India in the last year.

"Our office will hold the first-ever Taiwan Expo in India over May 17-19 to showcase the latest and products.

"With the opening of our office, we will also be signing an MoU on trade promotion with Ficci (Federation of Indian Chambers of Commerce and Industry)," he said.

He added that TAITRA had already signed an agreement with the for enhancing partnership on electric vehicle development.

Noting that Taiwan had contributed in the development of the industrial base of countries like and and that there are over 100,000 companies from his country operating in China, Yeh said that Taiwan seeks to create similar kind of industrial hubs in India, particularly in areas of Taiwanese expertise like petrochemicals, machine tools, and smart cities.

Bilateral trade increased from $1.2 billion in 2000 to $6 billion in 2016 and there are over 100 Taiwanese companies working in different sectors of the Indian economy, he added.



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

First Published: Tue, April 17 2018. 20:50 IST