Taiwan’s top trade promotion body said last week that it will organise tours to explore business opportunities in Myanmar and Laos in March, targeting the industrial product market in the two countries, where demand for machinery and power supplies is high.
In Myanmar, demand for imported machinery is high in the agricultural and industrial sectors, the Taiwan External Trade Development Council (TAITRA) said.
Demand for power supplies is especially high given the frequent electricity outages in the business districts in the Southeast Asian country with a population of over 60 million, which means huge business opportunities for quality Taiwanese products, according to TAITRA.
Laos is another niche market for Taiwan, and that country has been pushing trade and financial reforms and further opening its market. The country’s economy has been expanding at an annual average rate of over 6 percent since 2002, TAITRA said. Laos joined the World Trade Organization in 2013.
The delegation on the March 3-12 trip will include manufacturers of agricultural machinery, power supplies and auto parts.