Memorandum of Understanding signed between TAITRA, Middle East Business Association and Arab Business Club
United Arab Emirates: Taiwan External Trade Development Council (TAITRA), the non-profit trade promotion organization of Taiwan, further strengthened their commitment towards strengthening the trade relationship with United Arab Emirates by signing a Memorandum of Understanding (MOU) with Arab Business Club (ABC). The signing of the agreement took place during a seminar "Meet Taiwan - The Emerging Hub in Asia" which was held at the Shangri-La Hotel in Dubai.
Being the 3rd largest trade partner of Taiwan in the middle and near east region, the United Arab Emirates has established a strong relation with Taiwan in the industrial development in multiple aspects. The total trade between the UAE and Taiwan reached US$ 5.9 billion in 2011.
"Taiwan's trade relationship with United Arab Emirates has shown a steady growth of 17% in comparison with the previous year. The signing of the MOU with Arab Business Club and organizing these seminars, is a reflection of our commitment to further strengthen our trade ties with United Arab Emirates and the businesses here," said Mr Walter Yeh, Executive Vice President of TAITRA and MEBA.
"These seminars were dedicated to provide an overall picture on Taiwan's industries of ICT, auto parts & accessories, electronics, fastener and building materials," Yeh added.
Taiwan is a key link in the global ICT supply chain. It houses a complete industry chain encompassing upstream parts and components, midstream OEM assembly and downstream brand marketing. Besides, the Taiwan ICT industry holds several world records and is home to many of the world's largest makers of computers and associated hardware Taiwan's professionals have a strong grasp of global market share, moving proactively and responding rapidly to the latest developments and trends. Plus, these experienced key players constantly refine and incorporate their expertise with innovative thinking on R&D and manufacturing process, to produce the most value added and high-end products specialized in the fields of construction, automotive, ICT, medical and aerospace.
Commenting on the signing of the MOU, Mr Hamdan Mohamed Al Morshedi, Chairman of the Board of Arab Business Club said, "the seminar acts as the best platform for local companies to explore more cooperative opportunities with the many prominent Taiwan companies in the future or to strengthen the existing partnership with each other."
"We have signed the MOU with TAITRA and MEBA to fortify our relationship with Taiwan and to offer the business community in United Arab Emirates an easy access to the opportunities in Taiwan" Morshedi added.
Senior members of business landscape from across UAE attended the seminar and to accolade the signing of the agreement.
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