Tue, Jul 23, 2013 - Page 14 News List

Taiwan Business Quick Take

Staff writer, with CNA

TRADE

Turkey can be springboard

Taiwan plans to tap Turkey as a gateway to increased trade with the Middle East, the Taiwan External Trade Development Council (TAITRA) said yesterday, adding that it will hold a seminar in Taipei on Thursday to discuss the potential for business opportunities in Turkey. TAITRA said in a statement that Turkey could serve as the best springboard for Taiwanese companies to enter markets in the Middle East, Central Asia and North Africa. Iraq, which is forecast to register 9 percent economic growth for this year, is a good example of growth in the Middle East, TAITRA said, adding that Iraq plans to invest US$186 billion this year in major infrastructure such as electricity, housing and roads.

BANKING

Mega Bank eyes Myanmar

Mega International Commercial Bank (兆豐國際商銀) has secured approval from the Financial Supervisory Commission to open a representative office in Yangon, Myanmar, according to a statement issued by the commission on Friday. Mega Bank is still awaiting approval from Myanmar’s financial authorities to set up the office, it said. So far, First Commercial Bank (第一銀行) and E.Sun Commercial Bank (玉山銀行) have opened representative offices in Yangon, while Cathay United Bank (國泰世華銀行) obtained the green light earlier this month to set up an office in the city, but it is waiting for approval from Myanmar’s authorities.

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