Wed, Nov 19, 2014 - Page 13 News List

E-commerce business forecast to hit NT$1 trillion next year: trade official

By Lauly Li  /  Staff reporter

Bureau of Foreign Trade Deputy Director-General Cynthia Kiang yesterday speaks at an e-commerce award ceremony at National Taiwan University’s international conference center in Taipei.

Photo: CNA

The nation’s e-commerce business output is expected to grow about 15 percent annually to NT$883.3 billion (US$28.75 billion) this year and is forecast to hit NT$1 trillion next year, riding on the trend of mobile commerce, the Ministry of Economic Affairs said yesterday.

Last year, e-commerce output reached NT$767.3 billion, the ministry said.

“Using mobile devices to purchase goods on the Internet has become an everyday habit in Taiwan,” Bureau of Foreign Trade Deputy Director-General Cynthia Kiang (江文若) told the Taipei Times by telephone.

To expand e-commerce’s business scale, the ministry is working with the Financial Supervisory Commission to push through a draft bill on regulating Internet-based third-party payment services, Kiang said.

As of this year, there are more than 45,000 online shops in the nation, but only 20 percent of the shops have stepped into the overseas market.

Many online shopping companies have said that the draft bill could help them expand their business in overseas markets, she said.

China, Hong Kong and Macau are the main overseas markets for Taiwan online shops because of language ties, Kiang added.

Apart from the draft bill, the proposed cross-strait service trade agreement is also crucial to the nation’s e-commerce development, Kiang said, adding that more than 70 percent of online shops consider tariffs to be the main barrier to overseas expansion.

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