March 31st Machinery Procurement Session Open for Registration

Taiwan's government agencies and organizations are slated to host an online global machinery procurement session on March 31 in Taichung. The machinery industry is experiencing a rebound as global pandemic restrictions ease up.

As of publication, the procurement session hosted by the Economic Ministry Bureau of Foreign Trade and Taiwan External Trade Development Council (TAITRA) reported 230 buyers from 44 countries registered.

The Economic Daily News reported that among the foreign buyers registered, at least ten companies boast turnover above USD$100 million, including U.S. machine tool heavyweight Haas Automation, reported to be searching for CNC machinery parts, jig, and fixture equipment; Brazilian shoemaker Grupo Dass is looking for shoemaking machinery and automated shoemaking turnkey solutions. U.S.-based Illinois Tool Works reportedly signed up having heard of Taiwan's reputation for quality and well-priced machine tools and will be looking for metal processing machineries such as milling machines, lathes, grinders, forgings, and laser cutting.

Taiwan's 2.98% GDP last year was ranked at the top in developed countries, TAITRA said, pointing out that 2020 was also the first time Taiwan's GDP exceeded China in the past 30 years.

While Taiwan's machinery exports declined 3.3% last year compared to 2019, TAITRA said this January boasted a 34.8%-YoY export growth, also a 15.1% increase compared to 2019.

Despite the global pandemic delaying the economy and businesses, the encouraging registration as reported is a strong indicator of Taiwan's competitiveness and reputation among foreign buyers.