TAITRA held bilateral meetings with 25 Taiwanese enterprises - FASTENER EUROPE MAGAZINE
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TAITRA held bilateral meetings with 25 Taiwanese enterprises

As the global supply chain reallocates Türkiye and Europe market is getting more and more important, the International Trade Administration, Ministry of Economic Affairs, has commissioned the Taiwan External Trade Development Council (TAITRA) to organizes a delegation of 25 Taiwanese enterprises to explore business opportunities in Turkiye, Hungary, and Poland.

Taiwanese products are renowned for their consistently high quality, customized services, and rapid production and delivery capabilities. This delegation comprises primarily companies specializing in fasteners, hand tools, mold machinery, and various components, catering to the high demands of the Central and Eastern European markets in automotive (including electric vehicles), bicycles, aerospace, electronic communication products, and the construction industry. Notably, Taiwan is the second-largest exporter of fasteners globally (second only to mainland China), with export values ranking third globally, following China and Germany. Approximately 80% of the main clients are distributed between Europe and the Americas. Despite the challenges posed by the pandemic in the past two years, the average unit price of exported fasteners has shown significant growth over the past decade, underscoring the competitiveness of Taiwan's fastener industry. Among the delegation members, ADVANCED GLOBAL SOURCING LTD. is a well-known supplier to major automotive manufacturers such as BMW, Ford, General Motors, Honda, and Toyota. In the machinery industry, VERNAL MANUFACTURING & ENGINEERING CO., LTD., founded over 30 years ago, initially focused on OEM manufacturing but has successfully transformed after joining the government-led business transformation programs. It now operates under its own brand, specializing in custom and precision products for the international market. Most companies within the delegation boast over two decades of establishment, possessing extensive professional experience and exporting products globally. Their collective goal is to expand market share in the Türkiye and European region and maintain close, long-term cooperative relationships.

The Taiwanese government is actively supporting industry development in response to the trends of Industry 4.0 and smart manufacturing. By assisting in the transformation of industries, Taiwan aims to enhance its companies' production capabilities and diversity, earning high praise from clients in advanced countries. The delegation is expected to further consolidate the position of Taiwanese enterprises in the Turkiye and European market, fostering closer collaboration between Taiwanese and Turkiye and European businesses.