Taiwan: More trade with PNG

Business, Normal
Source:

The National, Wednesday 28th December 2011

PAPUA New Guinea is among six emerging markets that will be targeted by Taiwan next year in its bid to increase trade and investment.
The Taiwanese ministry of foreign affairs (Mofa) said last week that it would hold investment exhibitions in the emerging markets in the coming year, part of its plan to combine diplomacy with economic efforts.
Mofa had so far targeted Bosnia, Serbia, Papua New Guinea, Latvia, Laos and Dubai as new investment destinations, Frank Lin, deputy director-general of Mofa’s Department of Economic and Trade Affairs, said.
“The exhibitions are aimed at making these potential markets familiar with Taiwan,” Lin at a regular press briefing said.
Although he did not provide details about the content of the exhibitions, Lin said that several rounds of evaluations and assessments had been undertaken to identify investment opportunities.
He cited as an example the rich forestry resources in Papua New Guinea, describing them as worthy of investigation.
Unlike similar exhibitions organised by Taiwan in mature markets, Mofa proposed the destinations from the combined perspectives of finance, development and diplomacy, Lin noted.
Meanwhile, Mofa said it would continue to elevate Taiwan’s presence through regular business shows in 18 other countries next year, including a computer exhibition in Saudi Arabia, a telecommunications fair in Russia and an agriculture expo in Brunei.
The ministry had held 22 trade shows abroad this year as of November, involving more than 300 local companies and generating an estimated US$150 million-worth of business.