Taiwan should see a 300% rise in the purchase of Taiwan-manufactured electronic parts this year. That was the prediction from Taiwan’s trade promotion organization, TAITRA, on Tuesday.
The Taiwan External Trade Development Council (TAITRA) said that’s because the pandemic is slowing down in most countries, leading to a surge in demand for electronic parts as their economies rebound.
The council said Singapore, Indonesia, Thailand, Vietnam and the Philippines are recovering quickly and are actively developing their 5G infrastructure. These countries are a part of Taiwan’s New Southbound policy which aims to boost Taiwan’s ties with South Asia, Southeast Asia, New Zealand and Australia.
TAITRA said it will be holding online marketing meetings to help Taiwanese manufacturers obtain business opportunities in ASEAN countries. It said Taiwan’s fiber optic components are in demand as they are small compared to those of other countries. Taiwan’s companies are also known to provide stable delivery and reasonable pricing. It said that inquiries from buyers in Singapore, Thailand, Cambodia, and Vietnam have been high.
Meanwhile, TAITRA said it will be holding an online AIoT procurement meeting on June 23 for Taiwanese vendors to take advantage of these opportunities in the global e-communication market.