About 120 Filipino manufacturers and business owners converged recently to learn valuable trade lessons from Taiwanese companies in a one-day event that aims to seal business cooperation between Taiwan and the Philippines.
Aptly titled, ''Integrating Taiwan Top Industries to Provide Best Total Solutions,'' the seminar-trade mission was among the highlights of the Asian Development Bank's (ADB) Business Opportunities Fair 2013 held at the Crown Plaza Manila Galleria.
Spearheaded by the Taipei Economic and Cultural Office (TECO) in the Philippines in cooperation with the Taiwan External Trade and Development Council (TAITRA), Bureau of Foreign Trade (BOFT) of Ministry of Economic Affairs (MOEA) of the Republic of China (Taiwan), and the Philippine Chamber of Commerce and Industry (PCCI), the seminar-trade mission offered Philippine businesses an opportunity to discuss possible avenues of trade and business cooperation with their Taiwanese counterparts.
Taiwanese consultants from the Taiwan Engineering Consultants Alliance, Green Energy Team of Taiwan Turkey Project Association, and Institute for Information Industry shared best practices with local business owners.
TECO Representative Raymond L.S. Wang, who welcomed the participants, said the total bilateral trade volume between Taiwan and the Philippines in 2012 reached a total of US$11 billion as compared to US$9 billion generated in 2011.
He also noted the potential opportunities for partnerships between both two countries in the field of infrastructures and public-private property office (PPP) projects. He revealed that for almost three decades, Taiwan has contributed a total amount of nearly US$87 million to the ADB since 1983, which helped developing countries in the Asia Pacific region.
Wang also bared that Taiwanese investments to the Philippines rose to more than US$400 million last year from the US$300 million generated in 2011.