Corporate Taiwan trying to wean itself off China

YOKO YAMAMOTO / Nikkei / March 23, 2017

TOKYO — The recent chill in relations between China and Taiwan is giving Taiwanese companies the impetus to rely less on their huge communist neighbor and search for opportunities in other Asian countries.

The shift gives Japanese companies a chance to carve out new markets in Asia with their Taiwanese counterparts.

 James Huang Chih-fang, chairman of the Taipei-headquartered Taiwan External Trade Development Council, or Taitra, spoke with The Nikkei in Tokyo. “We will cultivate new markets in Asia where economies are growing rapidly,” he said.

Set up by the Taiwanese government and industry associations, Taitra is a nonprofit organization aimed at promoting and supporting Taiwanese companies’ overseas trade.

Taiwan’s companies excel in fields such as electronics and semiconductors, and their technical expertise is highly likely to meet growing demand.

“Unlike our conventional purpose of entering a foreign country, which has cost reduction in mind, we will push for providing Taiwanese technologies and services and developing human resources there,” Huang said.

Since her inauguration in 2016, President Tsai Ing-wen’s administration has encouraged domestic companies to reinforce economic partnerships in South and Southeast Asia. The plan is known as the new southward policy, and it aspires to economic independence from China. Read more…

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