The first LNG cargo from the 25-year LNG SPA between CPC Corporation, Taiwan (“CPC”) and Cheniere Energy (“Cheniere”), the largest exporter of US LNG, has arrived in Taiwan today (10/01/2021) on the Fuji LNG vessel for discharging at the Taichung LNG Terminal. Under the SPA, which was signed back in August 11th, 2018, Cheniere will supply 2 mtpa of LNG (approximately 30 shipments annually) to CPC starting 2021 to 2045.
》Economic Cooperation
The 25th Taiwan-Australia Joint Energy and Minerals, Trade and Investment Cooperation Consultations (JEMTIC) was held via video-conferencing in the morning on November 12, 2020.
The industries of mainland China and Taiwan have long-established supply chain relations, and mainland China now relies heavily on Taiwan’s semiconductors and information communication products.
To expand business opportunities with new emerging markets and facilitate Taiwan’s economic exchanges and cooperation with ASEAN countries, the Bureau of Foreign Trade (BOFT) continues to subsidize the Taipei Computer Association (TCA) in implementing the “Taiwan-ASEAN Smart Industry Cooperation Plan.” Since 2014, the TCA has carried out the plan in Myanmar, and to further facilitate more business opportunities, this plan was expanded to include Singapore in 2019.
Taiwan’s gross domestic product is forecast to increase by between 3.8 and 4.2 percent in 2021 on the back of successful management of the COVID-19 pandemic and a growing local economy, according to the National Development Council.
The overall restructuring of supply chains will give India a very unique place and attract many Taiwanese companies to invest in the country, TAITRA chairman James CF Huang said.The prospects for India-Taiwan bilateral trade, which was hit hard this year due to disruptions caused by the COVID-19 pandemic, look promising in 2021, according to the Taiwan External Trade Development Council (TAITRA).
New Southbound Policy countries collectively are home to a rapidly growing market with a large young population and immense domestic demand that holds great potential for Taiwanese companies.
Taiwan retained its third spot ranking among 50 major economies surveyed in the latest Profit Opportunity Recommendation report by U.S.-based Business Environment Risk Intelligence SA.
On December 23, 2020, the International Trade Commission (ITC) of the Ministry of Economic Affairs (MOEA) made an affirmative preliminary determination in its injury investigation involving ceramic tiles from India, Vietnam, Malaysia, and Indonesia.
The 2020 Food Taipei Mega Shows, a major food event which attracts visitors from across the world each year, is now being held in Taipei.
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