Taiwan businesses should expand their reach into Central and South America, officials from the Organ-ization of American States (OAS) said yesterday as they wrapped up a six-day visit to Taiwan.
Aside from the economic gains, business expansion in the vast region would also help Taiwan to diversify and broaden its network in these Latin American countries, the officials said.
"Regardless of what formats and styles Taiwanese businesses wish to operate their service there [in Central and South America], it would all, one way or another, help to diversify Taiwan's network in that region," said Ronald Scheman, director-general of the Inter-American Agency for Cooperation and Development (IACD) of the OAS. "And that's a good thing for Taiwan."
Scheman, head of the eight-member OAS delegation visiting Taiwan this week, made the remarks yesterday at a get-together event with media held at Ministry of Foreign Affairs.
Denis Antoine, Grenadian ambassador to the US and permanent representative of Grenada to the OAS, said that the delegation was especially impressed with Taiwan's small business and IT industry and that Central and South America could serve as a great alternative market to China for Taiwanese companies' expansion plans as most of the region's industries are complementary to Taiwan's.
"It is about wanting to diversify your network. Besides, as you know, it is best not to put all your eggs in one basket," he said, referring to the magnetic pull of China's economy, which has lured numerous Taiwanese businesses.
Noting that the Free Trade Area of the Americas (FTAA), is scheduled to encompass almost all the countries of the Americas in 2005, Antoine added that with the trade regimes of Latin American countries becoming increasingly liberalized, Latin America offers a new strategic target for Taiwanese businesses
The FTAA, a US-sponsored plan to dismantle trade barriers throughout the Americas, will create a trade zone from the Arctic to Argentina, an area comprising of more than 800 million consumers.
Aside from visiting places such as the Taipei World Trade Center and Hsinchu Science-based Industrial Park, the delegation members also called on Vice Chairperson of the Mainland Affairs Council Chen Ming-tong (陳明通), Deputy Minister of Foreign Affairs Kao Ying-mao (高英茂) and Vice Minister of Ministry of the Economic Affairs Shih Yen-hsiang (施顏祥) during their stay in Taiwan.
Other members of the delegation included Nicaragua's permanent representative to the OAS Leandro Marin Abaunza, president of the Coinvertir Invest in Columbia Corporation, Enrique Umana, principal economist and project manager of the IACD, Alvaro Cayzedo, and the CEO of the OAS Young America Business Trust, Roy Thomasson.
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