The Ministry of Economic Affairs will help local industries that have to compete with Chinese products to explore overseas markets, a trade official said yesterday.
Under a program designed to prepare local industries for an inflow of Chinese products once an economic cooperation framework agreement (ECFA) with China is signed, the ministry will help those that will bear the brunt of competition from Chinese products to promote their businesses, said Eric Chiang (蔣士煌), deputy director-general of the Bureau of Foreign Trade (BOFT) under the Ministry of Economic Affairs.
These industries include those involved in the manufacture of towels, bedding, knitwear, underwear, swimsuits, luggage and bags, Chiang said.
In the Taipei International Sporting Goods Show to be held from April 29 to May 2 by the Taiwan External Trade Development Council (TAITRA), there will be an area set aside for sports clothing and appliances, to allow these lines of trade to showcase their products, he said.
The organizers will urge would-be buyers to visit this area, Chiang said. In addition, these industries will enjoy discounts of 30 percent or more on their fees when they attend overseas trade fairs or trade promotion tours organized by TAITRA.
TAITRA has also promised to set up exclusive display areas or showcases at foreign trade fairs for products in these industries, he said.
In addition to facing the competition at home, the BOFT is planning to launch counterattacks by helping sell Taiwanese towels, knitwear and bedding to China.
Under this plan, these products will be showcased at Taiwanese trade shows organized by TAITRA in Dongguan, Guangdong Province in April and in Nanjing, Jiangsu Province in September.
They will also be shown at fairs planned for Chengdu, Sichuan Province, and in Shandong Province, should TAITRA succeed in lining them up, Chiang said.
He said BOFT has asked TAITRA to introduce the industries to foreign buyers through pamphlets and on its Taiwantrade Web site.
TECH PARTNERSHIP: The deal with Arizona-based Amkor would provide TSMC with advanced packing and test capacities, a requirement to serve US customers Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is collaborating with Amkor Technology Inc to provide local advanced packaging and test capacities in Arizona to address customer requirements for geographical flexibility in chip manufacturing. As part of the agreement, TSMC, the world’s biggest contract chipmaker, would contract turnkey advanced packaging and test services from Amkor at their planned facility in Peoria, Arizona, a joint statement released yesterday said. TSMC would leverage these services to support its customers, particularly those using TSMC’s advanced wafer fabrication facilities in Phoenix, Arizona, it said. The companies would jointly define the specific packaging technologies, such as TSMC’s Integrated
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Sales RecORD: Hon Hai’s consolidated sales rose by about 20 percent last quarter, while Largan, another Apple supplier, saw quarterly sales increase by 17 percent IPhone assembler Hon Hai Precision Industry Co (鴻海精密) on Saturday reported its highest-ever quarterly sales for the third quarter on the back of solid global demand for artificial intelligence (AI) servers. Hon Hai, also known as Foxconn Technology Group (富士康科技集團) globally, said it posted NT$1.85 trillion (US$57.93 billion) in consolidated sales in the July-to-September quarter, up 19.46 percent from the previous quarter and up 20.15 percent from a year earlier. The figure beat the previous third-quarter high of NT$1.74 trillion recorded in 2022, company data showed. Due to rising demand for AI, Hon Hai said its cloud and networking division enjoyed strong sales
Protectionism: US trade chief Katherine Tai said the hikes would help to counter unfair trade practices from China, while boosting domestic clean energy investments US Trade Representative Katherine Tai (戴琪) defended stiff tariff hikes against countries such as China, saying that paired with investment, they were a “legitimate and constructive” tool for reinvigorating domestic industries. Tai’s comments come a week after sharp tariff increases on Chinese electric vehicles (EVs), EV batteries and solar cells took effect — with levies down the line on other products also recently finalized. The latest moves targeting US$18 billion in Chinese goods come weeks before next month’s US presidential election, with Democrats and Republicans pushing a hard line on China as competition between Washington and Beijing intensifies. In an interview on Thursday
RSS