Taiwan looks to tap into Philippines' manufacturing potential

Taipei, Aug. 3 (CNA) The Taiwan External Trade Development Council (TAITRA) on Friday said it will lead a group of Taiwanese exhibitors to a smart machinery exhibition in the Philippines, hoping to tap into the country's growing manufacturing potential.

Together with the Taiwan Machine Tool & Accessory Builders' Association (TMBA) and Taiwan Bearing & Transmission Association (TBTA), TAITRA will bring some 40 exhibitors to Smart Tech Manufacturing Philippines 2018 in Metro Manila from Aug. 22 to 25.

The Philippine economy has performed well in recent years, with gross domestic product (GDP) growth averaging over 6 percent a year since 2012, the highest among ASEAN countries, TAITRA Industry Management Department Chiu Hui-li (邱揮立) said.

The Southeast Asian nation has not traditionally been known as a manufacturing hub, Chiu said, but under President Rodrigo Duterte's massive national development plan, the country's growing potential has become more evident.

To capitalize on the opportunity, a Taiwan Smart Machinery Forum will also be held during the four-day trade fair, Chiu said.

According to TAITRA, industry experts from Taiwan will share their insights on smart manufacturing as well as solutions to help the Philippines with its manufacturing transformation. 

By: Liao Yu-yang and Ko Lin, August 3, 2018
Source: Focus Taiwan
Photo: Pixabay