Taiwanese business group expected to sign MOUs in Japan(2011/8/24)

August 24th, 2011 | Categories: 2011 | Tags:

Taipei, Aug. 24 (CNA) A business delegation organized by the government is expected to sign several memorandums of understanding (MOUs) with Japanese firms during its visit to the country next week, the organizers said Wednesday.

The delegation, with 226 members, is slated to hold two business roadshows in Tokyo and Osaka from Aug. 29-Sept. 1, according to the Council for Economic Planning and Development (CEPD).

It will cover six categories of business sectors including creative and digital content, biotech, high-tech, green power, land development and precision machinery, the council said.

The group will also pay a visit to more than 30 Japanese corporations during the four-day trip, including IT vendors NEC Corp.

and Nintendo Co.’s major supplier MegaChips Corp., as well as Mitsubishi Gas Chemical (MGC), the world’s largest producer of bismaleimide-triazine (BT) resin.

Meanwhile, the business delegation will sign a total of five to six MOUs focusing on technology, manufacturing and biotech fields, said Daniel C.L. Chang, vice chairman of Daiwa-Cathay Capital Markets, which co-organized the event.

“Given the yen’s appreciation will increase corporate costs, some Japanese firms have told us that they want to diversify risks geographically after the March 11 earthquake, such as working jointly with Taiwanese companies to compete with South Korean rivals,” Chang told reporters at a pre-tour press conference.

Under these anticipated MOUs, the Japanese companies will increase their investment to Taiwan, such as jointly setting up research and development centers in Taiwan, or granting technology authorization to Taiwanese partners, Chang said. He declined to release any financial details.

From January to June this year, Japanese enterprises have made 6,670 cases of investment in Taiwan — the most among all of Taiwan’s trade partners — amounting to US$16.6 billion (NT$478.7 billion), according to the Ministry of Economics Affairs (MOEA).

In terms of bilateral trade, the monetary volume grew 8 percent year-on-year to US$30 billion during the January-May period in 2011, the MOEA said.

(By Jeffrey Wu) ENDITEM/ly

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