Minister of Economic Affairs Shih Yen-shiang (施顏祥) plans to visit Indonesia at the end of next month to survey opportunities for trade and investment in the textile, food and machinery sectors, government sources said yesterday.
As Indonesia has built better relations with China, Shih is expected to use the visit to break the ice, hoping to improve bilateral ties with the Southeast Asian country, Ministry of Economic Affairs officials said.
The officials said Shih was likely to lead a delegation to Indonesia on Sept. 29 if the country’s economics authorities would meet the Taiwanese delegation on an equal-footing and provide a ministerial-level welcome for the Taiwanese delegation.
If it is revealed that Shih would not be able to enjoy equal treatment in Indonesia, the ministry said the Taiwanese delegation would be led by a vice minister of economics affairs.
The ministry plans to organize an investment surveying group for the visit, while four trade promotion groups from Taiwan will also join the delegation.
Apart from representatives from the textile, food and machinery sectors, state-run enterprises such as Taiwan Sugar Corp (台糖), oil firm CPC Corp, Taiwan, (中油) and Taiwan Power Co (台電) are expected to be represented in the delegation, the officials said, adding that Indonesia has expressed hopes that Taiwan Sugar will invest in the country to expand sugar production and help meet demand.
The officials said 18 Taiwanese firms, including garment maker TEXMA International Co Ltd (德式馬企業股份有限公司), have signed up for the visit.
Earlier this month, the ministry said it had targeted Indonesia and Vietnam as potential free-trade agreement (FTA) partners after Taiwan announced it had agreed to enter negotiations on a bilateral trade pact with Singapore.
Ministry officials said that after Taiwan and China signed the Economic Cooperation Framework Agreement (ECFA) in late June, the country has been gearing up to boost business ties with Southeast Asian countries to penetrate the huge ASEAN market.
Taiwan is the 10th largest foreign investor in Indonesia, focusing on textiles, furniture, footwear, mineral resources and metals, while Taiwanese investors have also been engaged in the services and agriculture sectors.
The officials said the ministry is aiming to help old economy companies in Taiwan to relocate their investments in Southeast Asia, with Indonesia one of the priority destinations as Taiwanese investors in China face rising labor costs.
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