Sao Paulo, Brazil, 10 March – Over 70 Taiwanese ICT companies have been in Sao Paulo, participating since Monday in the fair “Famous brands from Taiwan reveal future trends” with a view to establishing agreements with Brazilian partners.
During the meeting, five Taiwanese brands – Asus, d-Link, MSI Computer, Genius and Johnson Healthtech – unveiled the new technologies of their products, hoping to enter the Brazilian market.
Sheng-Chung Lin, Taiwan’s deputy Economy Minister, present at the opening of the fair, emphasized the importance of the Brazilian market for the Taiwanese economy, particularly at a time when sales in the US and Europe have fallen due to the global crisis.
Bilateral trade between Brazil and Taiwan grew 61.59 percent between 2007 and 2008, reaching US$5.01 billion, against US$3.1 billion the previous year.
Brazilian exports to Taiwan reached US$1.47 billion in 2008, an increase of 80.76 percent compared to the previous year, when they reached US$815.91 million.
Brazilian imports from Taiwan have increased from US$2.28 billion in 2007 to US$3.54 billion in 2008.
The bilateral balance of trade in 2008 showed a surplus of US$2.06 billion for Taiwan, up 40.31 percent on 2007.
“We hope to sustain this level of exports to Brazil this year,” said Lin, pointing out that Taiwanese exports to Brazil are mainly in electronics, peripheral devices for computers and fibre optics.
The Taiwanese deputy Economy Minister said that bilateral trade with Brazil could improve if certain issues were resolved.
“In order to invest, Taiwanese businesspeople take into consideration tax agreements, fiscal benefits, ease of obtaining visas and logistics and all this depends very much on the relationship between the governments,” he said.
In 2008 Taiwan was the twelfth biggest importing market for Brazil and the 31st for Brazilian exports.
Taiwan is the 47th biggest investor in Brazil with US$19.21 million in 2008, double the figure recorded for the previous year, US$9.42 million.
The economic sector that received the largest share of Taiwanese investment in Brazil was the production of computer equipment, with US$9.73 million. (macauhub)