But despite promises by the Macedonian government to implement bilateral cooperation projects, Taiwan is faced with other institutional and cultural challenges in creating an economic miracle in the Balkan state.
"Both sides are proceeding to the best of our ability," said Loh I-cheng (
There are challenges in how to implement a free market economy in a country where people are accustomed to a socialist system and the question is how to attract Taiwan businesses to invest there, said government officials involved in investment projects with Macedonia.
"In Macedonia, they have yet to understand the `one-window concept' (
A "one-window" system would streamline bureaucratic procedures.
"Everyone pays lip service to the free market concept but when it comes to practice, one window disappears and it becomes many windows," he said.
Another Taiwanese investment specialist stationed in Macedonia expressed the same frustration to the Taipei Times.
"You have to be very patient in carrying out your work here and get used to the bureaucratic procedures," he said.
"It's also difficult to attract Taiwan companies to invest here because of the distance and the language barriers," he added.
So far, two companies -- electronics and woodworks firms -- have signed contracts to invest in the Taiwan-financed Economic Free Zone outside Skopje.
Taipei has promised US$200 million in investment from Taiwanese companies.
"You can lead a horse to water but whether it drinks or not -- is another question," said Liu.
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