Taiwanese players to close US$30m deals at IGEM 2014

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KUALA LUMPUR: Nine Taiwanese green technology players are poised to close deals worth US$30 million (RM97.8 million) through the International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM) 2014 that is set to take place from Thursday to Sunday.

Of the nine businesses, three have participated in the annual exhibition last year. That year, 10 Taiwanese green technology firms had closed deals worth US$35 million.

“Taiwan is renowned for its high technology industry. We wish to further promote our products globally, especially in Southeast Asia, where environmental awareness has seen a tremendous growth in recent years,” Taipei Economic and Cultural Office in Malaysia’s deputy chief of mission Jeffrey Kau told reporters after launching the Taiwanese pavilion at the exhibition.

“I look forward to more cross-border collaboration between Malaysia and Taiwan, as this would bring greater fortune and [higher] living standards to both lands,” he added.

He also revealed that up to September 2014, Malaysia-Taiwan trade has reached US$13 billion compared with US$16.3 billion in 2013.

On whether the recent food scandal would affect market’s confidence in Taiwan products, Kau said he is still confident of his homeland’s merchandise.

“There might be some negative market sentiment, but Taiwan’s competitive advantage has always been our [strength]. If things go wrong, we strive to fix and make it better,” he said.

“[This] value has been inculcated in every Taiwanese, which [forms] the general corporate culture. Therefore, our products usually undergo stringent quality control before commercialisation,” Kau added.

The issue of food safety in Taiwan has caused much alarm recently, particularly in neighbouring Hong Kong, Macau and China, after its cooking oil was found to have been adulterated with recycled waste oil and animal feed oil. The incident, which happened last month, has affected over 1,200 businesses.

Taiwanese products planned for exhibition include home automation systems, renewable energy items, LED lighting, and antibiotic-free farming systems.

This article first appeared in The Edge Financial Daily, on October 14, 2014.