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Robust growth recorded in Brunei-Taiwan trade
Publication Date : 31-12-2013
Trade between Taiwan and Brunei in the first 10 months of 2013 grew 46 per cent year on year, said the Taiwan trade representative to the Sultanate recently.
On the sidelines of a product showcase of processed foods from Taichung City, Taiwan, Albert Huang, representative from the Taipei Economic and Cultural Office in Brunei Darussalam, said that trade volume between Brunei and Taiwan had reached US$85 million by October this year.
The trade volume in the same period the previous year was about US$58 million, he said.
This year’s trade volume in the January-October period already exceeds the US$71 million recorded for all of 2012.
He said most imports from Taiwan include fruits, vegetables and processed foods.
“Next year, we hope to also get liquefied natural gas from Brunei,” he said, adding that companies such as Formosa Petrochemical Corporation and the state-owned China Petroleum Company might be interested in LNG from Brunei.
He also said Taiwan hopes to promote trade in other products made by Taiwan, such as various ICT or other technology products. He said that Taiwan produces solar cells and panels, which Brunei might be interested in. He also said that Taiwan also produced a lot of LED lights, which might appeal to Bruneian consumers wishing to save energy.
He expressed confidence that more Taiwan companies are looking to Brunei as a place to conduct business, noting that in September, a trade delegation from Taiwan looked at various possibilities and are very interested. “More Taiwanese are looking at this area to do business,” he said.
He said that it is not too hard to get products imported into the country, provided that there is a good partner that helps navigate through the system, citing good relationship between Taiwan companies and local department stores as an example.
Huang said that they are looking forward to more trade cooperation between Brunei and Taiwan in 2014, and also noted that there will probably be around 30 to 40 companies participating in an upcoming consumer fair in June 2014.