taiwanese consulate
DESCRIPTION
Information on doing business in Taiwan, presented at the International Trade Fair held on 12/7/12TRANSCRIPT
Taiwan-Your Ideal Partner in Asia
December 7, 2012
Commercial Division,
Taipei Economic and Cultural Office in Chicago
MOEA
Taiwan Overview
MOEA
Taiwan- Formosa
Area: 36,000 sq. km Population: 23 million Language: Mandarin/
Taiwanese/ Hakka/ Indigenous languages
Capital: Taipei
MOEA
Taiwan Top 20 Global Brand
Source: Interbrand
MOEA
Overview of the Economy
MOEA
Item 2010 2011
Foreign Exchange Reserve US$382 billion US$386 billion
GDP US$465 billion US$495 billion
GDP Per Capita US$19,046 US$20,246
GDP real growth rate 10.5% 4.51%
Export US$275 billion US$308 billion
Import US$251 billion US$282 billion
Source: Directorate General of Budget Accounting and Statistics, Executive Yuan
Taiwan’s Economic Profile –
MOEA
Strong Economic Growth in AsiaMOEA
GDP Growth Rate 2007-2011 (%)
2007 2008 2009 2010 20112011 GDP
($USD Billion)
USA 1.91 -0.33 -3.07 2.39 1.8 15,075.675
EU 3.43 0.56 -4.21 2.05 1.59 17,610.826
Japan 2.19 -1.04 -5.52 4.53 -0.75 5,866.540
China 14.16 9.63 9.21 10.45 9.24 7,298.147
India 9.99 6.9 5.9 10.1 6.84 1,826.811
South Korea 5.1 2.29 0.32 6.32 3.63 1,116.247
Taiwan 5.98 0.73 -1.81 10.72 4.02 466.424
Singapore 8.86 1.7 -0.98 14.76 4.89 259.846
Source: IMF
Solid Foreign Exchange Reserve Holding
MOEA
2011 GDP ($USD Billion)
Foreign Exchange Reserves
($USD Billion)
Reserves to GDP (%)
USA 15,075.675 151.436 (11/2012) 1
EU 17,610.826 903.02 (08/2012) 5.1
Japan 5,866.540 1,274.160 (10/2012) 21.7
China 7,298.147 3,285.09 (09/2012) 45
Russia 1,894.473 526.766 (10/2012) 27.8
Taiwan 466.424 399.220 (10/2012) 85.5
India 1,826.811 295.290 (10/2012) 16.1
Source: IMF & StockQ.org
Low Unemployment in AsiaLow Unemployment in Asia
MOEA
Source: IMF
2010 Unemployment Rate
2011 Unemployment Rate
Japan 5% 4.6%
China 4.1% 4.1%
South Korea
3.7% 3.4%
Taiwan 5.2%% 4.4%
Hong Kong
4.3% 3.4%
Singapore 2.2% 2%
East Asia’s Free Trade Agreement
MOEA
US-Taiwan Economic RelationsUS-Taiwan Economic Relations
MOEA
U.S.-Taiwan Economic Relations, 2011 A STRONG ECONOMIC PARTNERSHIP
MOEA
Taiwan… 2nd Largest per
capita importer of U.S. farm products (7th largest overall)
12th largest U.S. trading partner
15th largest U.S. export market
U.S.…
3rd largest trading partner for Taiwan
3rd largest export market for Taiwan
Taiwan’s largest FDI source (1952-2011 cumulative)
Taiwanese FDI into the U.S.
MOEA
Top sectors for Taiwan Investment in the U.S.
MOEA
The U.S.-No. 3 Trading Partner of Taiwan
Rank Country Value of import
(million USD)
% in total
Country Value of export
(million USD)
% in total
1 Japan 27,875.610 17.61 China 45,361.925 26.72
2 China 23,761.346 15.01 Hong Kong 20,729.500 12.21
3 USA. 14,065.980 8.88 The U.S. 18,691.654 11.01
4 South Korea 8,969.706 5.66 Singapore 10,877.450 6.40
5 Kingdom of Saudi Arabia
8,561.280 5.41 Japan 10,293.923 6.06
USD:TWD= 1:30; Source: Directorate General of Customs in Taiwan
2012 Taiwan2012 Taiwan’’s top five import & export partnerss top five import & export partners
MOEA
Taiwan: the Gateway to Asia
World Economy turns to emerging East Asia markets, including China
Taiwan is the gateway to unprecedented Asia opportunities for Illinois
Trading Agreement ECFA signed in 2010, has empowered Taiwan to further connect business to the potential market
MOEA
Why Taiwan?Why Taiwan?
Taiwan is one of U.S. strongest allies and also share common values with the U.S. - robust and mature democracy, human right and free market principles.
Taiwan enjoys American quality product and we have strong sentiments of Buy American Products.
Taiwan has strong manufacturing and Technology base Better experience in manufacturing and R&D Following international rules and IP Protection Best regional location for accessing China and
Southeast Asia markets
17
MOEA
MOEATaiwan
Thomas Friedman’s favorite country
“Taiwan is a barren rock in a typhoon-laden sea with no natural resources to live off of, yet it has the 4th largest financial reserves in the world”
Saturday March 10, 2012
Pass the Books. Hold the Oil.Pass the Books. Hold the Oil.By Thomas L. FriedmanBy Thomas L. Friedman
“Rather than digging in the ground and mining whatever comes up, Taiwan has mined its 23m people, their talent, energy and intelligence”
“Taiwan is lucky because it developed the habits and culture of honoring the people’s skills, which turns out to be the most valuable and only truly renewable resource in the world today.”
Taiwan
Why Taiwan Matters: Small Island, Global Powerhouse
MOEA
2011 The U.S. Export to Taiwan of Total Merchandise
6,643.50, 25%
4,985.97, 19%
2,440.27, 9% 4,086.02, 15%
8,732.90, 32% Computer andelectronicprodutcs
Machineryexceptelectrical
Chemicals
Agriculturalproducts
All others
MOEA
2011 The U.S. Import from Taiwan of Total Merchandise
19,602.86, 48%
3,782.51, 9%
2,567.10, 6%
3,093.57, 7%
12,358.71, 30%Computer andelectronicprodutcs
Fabricatedmetal prodcuts
Transportationequipment
Machinery
All others
MOEA
2011 Total Merchandise Export from Illinois to Taiwan
MOEA
65.75, 5% 94.68, 8%
738.12, 59%
67.51, 5%288.40, 23%
Computer andelectronicprodutcs
Chemicals
Waste andscrap
Agriculturalproducts
All others
MOEA
•Medicine & Health Care•Biotechnology•High-end Agriculture•Tourism •Culture & Creation•Green Energy
•Cloud Computing•Intelligent electric vehicles•Intelligent eco-friendly Architecture•Patent Commercialization
1. WiMAX2. International Medicine3. High-tech & Innovative
Industries4. Music & Digital Content5. MICE industry6. International Logistics7. Urban Renewal8. Globalization of
Taiwanese gourmet9. Chinese language e-
commerce10.Expansion of foreign
student recruitment
Taiwan’s Industrial Development Strategy
For information or assistance, please contact your local support at Commercial Division, Taipei Economic & Cultural Office in Chicago:
Website: www.roc-taiwan.org/US/CHI/
Email: [email protected]
Tel: (312) 616-0120
Fax: (312) 616-1498
Address: Two Prudential Plaza, Suite 5802, 180 N Stetson Ave, Chicago, IL 60601