Spearheaded by the Taiwan External Trade Development Council (TAITRA) under the auspices of the Bureau of Foreign Trade, the 17-strong Taiwanese trade group embarked on an important trade mission to participate in Saudi PPP in this year. These visits will surely bolster trade relations, and also pave the way for more trade opportunities between Taiwan and Saudi Arabia.
The Saudi Plastics and Petrochemicals Exhibition, hosted by the Riyadh International Convention & Exhibitions Center, is the largest gathering of industry leaders at the regional level, providing a key gateway to access opportunities within the Saudi market in the context of continued government support to provide incentives aimed at establishing a strong base for petrochemical and related industries. It also highlights the sector’s contribution to economic diversification in the Kingdom.
The four-day event is being held from 13-16 January 2020, has more than 266 exhibitors from 22 countries including Austria、Bahrain、Belgium、China、Denmark、France 、Germany、India、Italy、Korea、Taiwan、USA、UAE etc.to showcased their products and services and bring together more than 12,000 of leading regional and international experts, decision-makers to search for potential opportunity available in the Kingdom, which currently possesses 67% of the total GCC petrochemical production share. Alongside main entrance Taiwan Pavilion provides the best sourcing platform for buyers to procure premier Taiwan products such as inflation machine、injection molding machine、plastic waste recycling machine、cutting machine by servo motor control、used tire recycling equipment、CI flexographic printing machine/press and cable tie and plastic parts.
Economic and trade ties between Taiwan and Saudi Arabia have been progressing smoothly in recent years. In 2019, bilateral trade between the two sides reached US$ 8.6 billion. Taiwan’s exports to Saudi Arabia amounted to US$914 million. Taiwan imported US$7.7 billion worth of goods from Saudi Arabian.
TAITRA indicated that bilateral trade between Taiwan and Saudi Arabia has been doing well. This year TAITRA plans to organize another trade event for the Saudi Arabia market, and is looking forward to creating more economic exchanges and trade cooperation with its counterparts from the Kingdom in the near future.