Taiwan-Japan industrial office opens in Taipei
The Taiwan-Japan Industrial Collaboration Promotion Office opened March 21 in Taipei City, paving the way for closer business ties between the two countries, according to the Ministry of Economic Affairs.
Supported by the MOEA Industrial Development Bureau, the office is a December 2011 Cabinet initiative targeting Japanese firms seeking offshore backup production sites after the earthquake and tsunami that devastated northeastern Japan in March earlier that year.
“Taiwan and Japan possess highly complementary industrial structures,” MOEA Minister Shih Yen-shiang said. “Combining Taiwan’s manufacturing efficiency with Japan’s technological leadership is a winning strategy.”
Yusuke Sami, deputy representative at Japan’s de facto embassy in Taipei,
said bilateral relations scaled new heights in 2011, with a record 1.3 million Japanese visiting Taiwan and the inking of open sky and investment protection agreements.
“We are optimistic that the office will play an active role in creating opportunities for both countries in high-growth markets, especially mainland China,” he added.
According to the MOEA, the office will assist in policymaking, coordinating government resources and harnessing Japan’s public and private sectors to achieve greater synergies in management, manufacturing and marketing. It is also expected to increase the number of finished products exported from Taiwan to emerging markets.
As part of these efforts, the office will initiate 500 joint projects, launch 10 brands, boost accumulated procurement of local products to NT$3 trillion (US$100 billion) and double annual Japanese investment in Taiwan to NT$30 billion, the ministry said.
MOEA statistics indicate that Japanese firms invested over US$17 billion in Taiwan between 1952 and 2011, or 15 percent of total foreign investment during this period. Bilateral trade reached US$70.43 billion last year, up 0.72 percent from a year ago. (JSM)