16 Nisan 2011 Cumartesi

Taiwanese firms seek new markets via Turkey

Numerous Taiwanese firms are planning to invest in Turkey to export products to access new markets such as Hungary, Belarus and Russia, a Taiwanese deputy minister told the Hürriyet Daily News & Economic Review after the opening ceremony of a fair Thursday in Istanbul.

“We are pleased to witness Taiwan’s involvement in over 20 investment projects in Turkey such as Asus, a major computer company, and Micro Star, a computer main boards, graphic cards and notebooks manufacturer,” said Sheng Lin, deputy minister of economic affairs, in an interview during a Taiwanese business mission’s visit to Istanbul.

The mission included representatives from 57 companies and was led by the deputy minister.
 “Other prominent Taiwanese companies that have been actively participating in Turkey’s economic activities include shipping giants Yang Ming Marine Transport and Wanhai Lines,” Sheng said.

There could be more firms that are looking for opportunities for investments, according to him. “Our firms may penetrate the Hungarian, Belarusian and Russian markets through Turkey. We are trying to understand the dynamics of the Turkish market.”

Noting that Taiwan is globally recognized for its technological products and services, Turkish market has significant importance for Taiwanese firms, Sheng said.

Machinery trade

“Many Turkish industrialists purchase their machines from Taiwan as most of the Taiwanese products are in good shape for reasonable prices,” said Erdal Gamsız, president of the Machine Tools Industrialists and Businessmen’s Association.

“Turkey imported nearly 3,000 machines from Taiwan,” he said. Gamsız said, “Turkey is seen as the rising star of the world by Taiwanese companies.”

Turkey is currently Taiwan’s 36th major trade partner according to the official figures of Taiwanese Ministry of Economy. Turkish export volume to Taiwan is relatively small compared with the import volume. Turkey’s exports have reached nearly $130 million by the end of 2009 and its imports were recorded as $1.34 billion in the same period of the year.

Last year, Turkey’s export volume to Taiwan reached $136.7 million while Taiwan’s exports reached $1.84 billion. In the first three months of this year, Turkey exported goods worth nearly $12.5 million as the import volume reached nearly $280.5 million.

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