Taiwan delegation wins US$36m in Indonesian orders

Taipei Times, Staff writer, with CNA, Mon, Oct 4, 2010 

A trade and investment delegation led by Minister of Economic Affairs Shih Yen-shiang (施顏祥) won US$36 million in orders in Indonesia during a three-day visit, the Ministry of Economic Affairs said on Saturday.

The delegation, which returned to Taipei earlier in the day, held several business seminars during the visit, attracting about 1,200 potential buyers, the ministry said.

The delegation was comprised of more than 150 representatives from about 100 major Taiwanese companies, including Teco Group (東元集團), Winbond Electronics Corp (旺宏電子), CPC Corp, Taiwan (台灣中油), Tainan Enterprises Co (台南企業) and Taiwan Sugar Corp (台糖).

Biggest group

The ministry said the delegation was the largest trade and investment group from Taiwan to visit the Southeast Asian country, showing that Taiwan’s business sector values the Indonesian market.

Shih met with Gita Wirjawan, head of Indonesia’s Coordinating Investment Board, while the other delegates visited industrial zones looking for business opportunities.

Packed with natural resources and a huge population, Indonesia has become one of the most important markets in Southeast Asia, the ministry said.

Room for growth

The ministry said there was room for Taiwan and Indonesia to work together economically, especially now that Taiwan and China have signed the Economic Cooperation Framework Agreement (ECFA).

Indonesia and Taiwan can complement each other in industrial development because Taiwan is strong in information technology, machinery and auto components, while Indonesia has an edge in oil, natural gas, timber, rubber and textiles, it said.

Taiwan’s accumulated investments in Indonesia total US$13.95 billion, according to the ministry’s data.