To deal with such potential impact, BOFT
has held meetings with industrial associations to find problems facing members and try to map out solutions.
Besides, the BOFT
is planning to set aside an additional budget of NT$300 million (US$10 million) to help Taiwan products promote brand images in India, Indonesia, Vietnam and mainland China and will keep encouraging industrial associations to organize trade promotion groups to tap emerging markets.
BOFT pointed out that Standard Chartered Bank has over 150 years of history operating in India, where it has 90 branches in 33 cities, making it the largest foreign bank in the country.
BOFT noted that in addition to preferential loans, Standard Chartered Bank will help Taiwanese enterprises seek business partners in India.
The BOFT pointed out that share of emerging markets in Taiwan's export climbed further to 65% in 2011, or 25% after excluding China.
The BOFT targets to achieve 8-10% export growth this year, but the target growth for export to emerging markets is set at 16-20%, double the overall target.
Chen Min-shih, deputy director general of BOFT
, pointed out that there were only 76 items on the early-harvest list which enjoyed free tariffs last year, generating tariff cut of US$114 million.
says Taiwan exports to Russia major products as telephone sets, hard drives, TFT-LCD, steel screws, and IT parts and accessories, with Russia being Taiwan's 25th largest trade partner.
Cho, director general of BOFT
, indicated that his bureau is optimistic about Taiwan's foreign trade in 2012 as the business climate in the U.
Director General Huang also pointed out that in order to assist Taiwan businesses in coping with the current global financial crisis, the programs of the BOFT
this year are focused more on the emerging markets, especially those in Southeast Asia So far the BOFT
have organized 11 Taiwan delegations to participate in different local exhibitions held in Southeast Asia, such as INTERNACH in Thailand, V.
Director General Bill Cho pointed out that Taiwan's export growth came to 15% in the first half, 7.
The project is supported by the MOEA, sponsored by the BOFT
and organized by TAITRA.