The second Taiwan-Malaysia economic and trade dialogue took place Jan. 17 in Taipei City, with the two sides pledging to bolster exchanges across such areas as e-commerce and halal industry development, the Bureau of Foreign Trade under the Ministry of Economic Affairs said.
 
According to the BOFT, the meeting was staged as part of broader government efforts to expand ties with the region under the New Southbound Policy. A key component of President Tsai Ing-wen’s national development strategy, the initiative seeks to promote talent exchanges, trade and economic cooperation, resource sharing and regional connections with the 10 Association of Southeast Asian Nations member states, six South Asian countries, as well as Australia and New Zealand.
 
Led by BOFT Director-General Yang Jen-ni, the Taiwan delegation consisted of officials from the bureau as well as the MOEA’s Department of Investment Services and Small and Medium Enterprise Administration.
 
The Malaysia team comprised officials from the Ministry of International Trade and Industry and the Malaysian Friendship and Trade Centre in Taipei, which represents the Southeast Asian country’s interests in Taiwan.
 
During the event, the two sides focused their discussions on biotechnology, e-commerce, halal products, SME development and telecommunications services.
 
Several notable results were achieved at the meeting. Taiwan and Malaysia agreed to create a consultation mechanism on Chinese herbal medicine regulation and organize promotional events to foster e-commerce cooperation, according to the BOFT. Malaysia will also provide information on halal food materials to support product development in the Taiwan market.
 
The two sides’ regulatory agencies for telecommunications services will establish contact windows to foster information sharing on related policymaking, the bureau said, adding that business associations in both nations will promote greater investment and collaboration in the automation, aviation and financial services sectors as well as exchanges on SME-related issues.
 
In line with the New Southbound Policy, the MOEA said that it will stage a series of trade promotion events in Malaysia this year to explore commercial opportunities and enhance cooperation between the two sides. These include hosting trade fairs, setting up a product marketing center and creating a business alliance to connect Malaysian machinery buyers with Taiwan manufacturers. (SFC-E)
 
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