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TAIWAN IN THE MIDDLE EAST :
Taiwan: The New Partner
Taiwan is now looking to form strategic partnerships with countries in the Middle East...
"Healthy economic and trade ties underpin the strong relationship between Taiwan and the Middle East. The fact that both Taiwan and Dubai are trading and distribution hubs for their respective regions has helped foster greater trade and economic ties have been registering steady progress in recent years. Indeed, both Taiwan and Dubai are economically vibrant and have enterprising business communities," said Abdul Rahman Mutaiwee, Director-General of the Dubai Chamber ofg Commerce & Industry (DCCI). "Dubai is now undoubtedly the trading centre of the entire Middle East, just as Taiwan has emerged as one of the most significant gateways in the Asia-Pacific region. Both are economically vibrant and have enterprising business communities," he said.
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| The inaugural flight celebrations of the new service between Abu Dhai and Taiwan by China Airlines |
The fact that Dubai has emerged as one of Taiwan's biggest trading partner in the Middle East reflects the strengthening of trade relations. Not only have Taiwan's exports to Dubai registered a phenomenal growth but imports from Dubai have also increased substantially in recent years.
The commencement of direct flights is sure to further boost trade relations. Many Taiwanese companies have already established their operations in the Jebel Ali Free Zone and we expect this number to increase in the coming years.
MAJOR BREAKTHROUGH
A major breakthrough in relations between Taiwan and the United Arab Emirates came when Former Minister of Foreign Affairs Mark Chen visited the UAE in April, 2005. The Former Minister of Foreign Affairs Chen Tan Sun also visited UAE in January this year as the president's envoy to convey condolences upon the death of the late UAE Vice President Sheikh Maktoum Bin Rashid Al Maktoum.
Following that trip, the director of Taiwan's Chinese Petroleum Corporation, Kuo Chin-tsai, visited the UAE in May and signed a letter of intent with the local petroleum companies for a mutual cooperation project.
Taiwan and the United Arab Emirates have agreed to form a strategic partnership to boost military and trade ties. Taiwan and UAE reached a consensus on forming strategic partnerships during President Chen Shui-bian's unofficial visit to UAE.
Taiwan established its first Honorary Consulate in Dubai way back in 1979. The office was renamed as the Commercial Office of the R.O.C (Taiwan) to Dubai, UAE in 1988 and has been actively promoting bi-lateral ties between the United Arab Emirates and Taiwan.
In the last three years, trade between Taiwan and the Middle East countries has been registering a steady growth. In 2005, Taiwanese exports to the UAE alone were worth approximately US$1.07 and imports are valued at roughly US$1.32 billion. In fact, Taiwan is one of the major importers of crude oil Ð importing approximately US$1.14 billion worth of crude oil from the UAE every year while non-oil exports from the UAE to Taiwan include aluminium, organic chemicals, sugar, copper, zinc, ceramic products, plastic goods and fish.
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| Kuo yao-Chi, Taiwan's Minister of Transportation and Communications and Wengsheng Hsu, Director General of Taiwan Tourism Bureau with guests at the inaugural party of China Airlines in Abu Dhabi |
On the other hand, the main products exported to the UAE from Taiwan include computer hardware, accessories and peripherals, electronic appliances; consumer goods such as textiles and cloth; artificial fibres, automobile parts and accessories. Another commodity that has been gaining increasing popularity in the Middle East markets is TaiwanÕs heavy equipment and machinery for the plastics and rubber industry.
With the passing of each year, trade between Taiwan and the Middle East countries has been on the upswing. A major credit for this goes to the Commercial Office of the R.O.C (Taiwan) to Dubai which is now headed by Andrew Y. Chang. "Our office in Dubai promotes Taiwan's interests in the U.A.E. and Iran by providing services and information to locals as well as Taiwanese business and the expatriate community in the region," says Andrew Chang. Among the many roles undertaken by our office is to serve as a consular office," he says.
"The UAE has emerged as a major importer of Taiwanese products in the Middle East and is currently ranked as the 23rd largest destination of Taiwan's exports," he says.
As a major trading and distribution hub in the Middle East, Dubai has also been attracting direct investments from Taiwan. "Many Taiwanese companies have invested in the UAE and opened their offices here," points out Andrew Chang. Some of the major Taiwanese companies which have operations in the UAE include Acer, Foxconn, BenQ, Wan Hai Lines, Princo, Evergreen Group, Yan Ming marine transport, Ghanz-Sampo.
By using Dubai as their base, most of these companies service the huge markets of the CIS, Africa and the Indian sub-continent.
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| Andrew Chang with President of Taiwan, Chen Shui-bian |
"I am confident that trade ties between the Middle East countries and Taiwan will achieve new heights in the years to come," says an optimistic Andrew Chang. "The inauguration of direct flights between Abu Dhabi and Taipei by China Airlines (from 26 April, 2006) will play a crucial role in further strengthening trade and tourism ties between the United Arab Emirates and Taiwan. We have already noticed a drastic increase in the number of visitors from Taiwan to Dubai in the last two years. A major attraction for Taiwanese visitors to the UAE is a stay at the internationally-acclaimed Burj Al Arab," he said.
From a business perspective, the UAE also offers an excellent opportunity for Taiwanese enterprises to further expand their investment portfolios outside Mainland China and explore newer markets beyond, notes Andrew Chang.
"By promoting a better understanding between the peoples of Taiwan and the Middle East, this publication has bridged an important gap towards a bright and mutually beneficial relationship between Taiwan and the Middle East," he noted.
With so much happening between Taiwan and the Middle East, it would be safe to assume that bi-lateral relations between the two regions are poised for unprecedented growth in the coming years.
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