MARKET ESSENTIALS - Taiwan

Taiwan 1st Edition Covers 06

1/5/07

8:43 am

Page 4

Taiwan

Access to the World Invest in Taiwan

To promote foreign investment in Taiwan, assist Taiwan companies investing abroad and recruit science and technology personnel, the Department of Investment Services (DOIS) under the Ministry of Economic Affairs, serves as a liaison between businesses and the Taiwan government, and maintains "service contact windows" to facilitate communication between foreign companies and Taiwan businesses, and government agencies and consulate offices abroad.

Market Essentials “Taiwan is a thriving, hi-tech market in its own right, well suited to SMEs. It is also an ideal stepping stone for companies wishing to gain access to mainland China.�

Michael Reilly Director of the British Trade and Cultural Office in Taipei

Department of Investment Services Tel: 886-2-23892111 http://www.dois.moea.gov.tw Invest in Taiwan Website: http://investintaiwan.nat.gov.tw/ Global Taiwanese Business Service Website: http://twbusiness.nat.gov.tw/ Hirecruit (overseas recruitment) Website http://hirecruit.nat.gov.tw/english/index.asp

TBBC

Taiwan

Taiwan 1st Edition Covers 06

1/5/07

8:43 am

Page 1

Introduction

Useful Contacts

Taiwan

Foreword by the Director of the British Trade and Cultural Office in Taipei I am delighted to contribute to this Market Essentials folder on Taiwan. Through promotion of this dynamic market British companies will be in a better position to take advantage of the growing opportunities both here and elsewhere in the region.

Taiwan is still not well known by UK companies. Its dynamic, entrepreneurial hi-tech products now account for 35% of Taiwan’s exports - higher than for Japan or South Korea. Taiwan is the world leader for much of the ICT industry. Its production of flat panel LCD screens alone is bigger than the entire GDP of some EU countries.

Michael Reilly

This is backed by continuing investment in infrastructure, such as the the new high speed railway linking Taipei and Kaohsiung and the longest road tunnel in Asia, opening up the East Coast. Taiwan is a world leader in the manufacture of semi-conductors, notebook computers, monitors, scanners and bicycles.

In terms of GDP, Taiwan has the twenty-first largest economy in the world, ranked fourth in terms of investment risk and competitiveness and fifteenth largest in trade. Its 23 million population is highly educated, with an estimated 16% holding higher education degrees, many of them from UK universities. More than 9,000 Taiwanese go to the UK for their studies every year.

Over 300 British companies already operate in Taiwan, investing some US$3 billion in fields ranging from

semiconductor components through railway infrastructure equipment to financial services.

It remains a market well suited to SMEs and is also an ideal stepping stone for companies wishing to gain access to mainland China. There are over 63,000 Taiwanese owned companies in mainland China, employing 50 million people and over 40% per cent of Taiwan’s exports go to China. A Taiwanese partner who understands the culture and the complexity of the China market can be invaluable.

The UK has to date attracted over 170 Taiwanese investors, many using their UK operation as a gateway to Europe.

These investments cover all knowledge-driven sectors across every region of the country, highlighting the clear opportunities that exist when combining the UK's excellent inward investment environment with Taiwanese entrepreneurial and manufacturing abilities.

The BTCO offers the same service to business as any British Embassy or Consulate world-wide. Our Trade & Investment team is here to help you take advantage of the many and growing opportunities in Taiwan – please do contact us. We look forward to assisting you.

The UK is Taiwan’s third largest trading partner in Europe. Among the UK’s main exports are semi-conductors, electronic components, pharmaceutical/medical supplies and beverages (it is the second largest global export market for Johnny Walker whisky). In addition, the UK holds around 30% of the Taiwanese overseas study market, with some 14,000 Taiwanese students currently studying in the UK.

UK TRADE & INVESTMENT Taiwan Desk Kingsgate House 66 - 74 Victoria Street London SW1E 6SW Contact: Paul Bathgate Tel: 020 7215 4246 Email: paul.bathgate@uktradeinvest.gov.uk Web: www.uktradeinvest.gov.uk

TAIPEI REPRESENTATIVE OFFICE IN THE UK 50 Grosvenor Gardens London SW1 0EB Contact: Dr Edgar Lin Tel: 020 7881 2650 Email: tro@taiwan-tro.uk.net Web: www.roc-taiwan.org/uk

BRITISH CHAMBER OF COMMERCE IN TAIPEI Suite 805, 8th Floor 207 Dun Hua North Road Taipei 105 Taiwan Contact: Kim Moore Tel: +886 2 2547 1199 Fax: +886 2 2547 2378 Email: info@bcctaipei.com Web: www.bcctaipei.com

BRITISH TRADE & CULTURAL OFFICE, TAIPEI 8-10 Floor, Fu Key Building 99 Renai Road, Section 2 Taipei 100 Taiwan Contact: David Percival Tel: +886 2 2192 7000 Fax: +886 2 2394 8673 Email: david.percival@fco.gov.uk Web: www.btco.org.tw

THE MINISTRY OF ECONOMIC AFFAIRS 15 Fuzhou Street Taipei 10015 Taiwan Tel: + 886 2 2321 2200 Web: www.moea.gov.tw

ASIA HOUSE 63 New Cavendish Street London W1G 7LP Contact: Stefan Kosciuszko, Chief Executive Tel: 020 7307 5454 Email: enquiries@asiahouse.co.uk Web: www.asiahouse.co.uk

BRITISH TRADE & CULTURAL OFFICE, KAOHSIUNG Unit D, 7th Floor 95 Ming-Tsu 2nd Road Kaohsiung 800 Taiwan Tel: +886 7 238 1034/1035 Fax: +886 7 238 1032 Email: btcokh@seed.net.tw Web: www.btco.org.tw

TAIWAN BRITAIN BUSINESS COUNCIL, SECRETARIAT Bay 559 UK Trade & Investment Kingsgate House 66 - 74 Victoria Street London SW1E 6SW Contact: Andrew Robinson Deputy Manager, Pacific Rim, Indonesia, Korea, Taiwan & Vietnam Tel: 020 7215 4749 Email: andrew.robinson@uktradeinvest.gov.uk Web: www.tbbc.org.tw

Introduction by the Head of the Taipei Representative Office in London

Dr Edgar Jun-Yi Lin

Commercial ties between the UK and Taiwan are strong. In 2005, bilateral trade amounted to US$5.3 billion, a 6.3% increase. The UK currently ranks as Taiwan’s 17th largest trade partner and third largest in Europe, only behind Germany and Holland. Taiwan is the UK’s seventh largest market in Asia, after China, Japan, Hong Kong, Singapore, India and Korea.

Every year we help thousands of companies like yours pinpoint new customers and opportunities overseas. As a Government organisation with a unique global network of trade & investment experts, we know how important it is to really understand your business.

Whether you are completely new to selling your products or services in international markets, looking to expand into new markets or increase your business in existing markets, we offer all the advice, information and practical support you need to make it happen. Promotion of the City and the UK financial services sector is at the heart of our agenda. We work closely with the City of London Corporation; and with International Financial Services London (IFSL) as our delivery partner in this sector.

For more information on activities and help in the financial and professional services sector contact: IFSL

As Taiwan's chief representative in the UK, I am delighted to introduce this Market Essentials folder for British businesses looking to invest in Taiwan.

It also gives me great pleasure to highlight the ninth annual joint meeting of the Taiwan-Britain Business Council (TBBC), which is taking place on the 18th to 19th April 2007 in Kaohsiung, Taiwan. Moreover, the 13th annual conference of the Council of Taiwanese Chambers of Commerce in Europe is also scheduled to take place in London, over 17th to 20th May 2007. This conference will explore ideas on business investment in Europe and Taiwan, with Dr Shih Yen-Shiang, the Deputy Minister of Economic Affairs, giving a keynote speech on investing in Taiwan.

WHERE IN THE WORLD WILL YOUR NEXT CUSTOMER COME FROM?

+44 (0)20 7213 9100

substantially since the early 1980s. By the end of 2006, UK companies had invested in 422 projects in Taiwan, with a total accumulative investment of US$4.9 billion, while Taiwanese companies had invested in 152 projects in the UK, with a total accumulative investment of US$0.5 billion. In particular, the UK has always been the first choice of destination for Taiwanese companies investing in Europe. More than 24% of Taiwanese investment in Europe is currently located in the UK, and we can expect more in the years to come.

www.ifsl.org.uk

The Taipei Representative Office in the UK, based in London, is the main representative body for the government of the Republic of China (Taiwan) in the UK. It works to promote and maintain strong bilateral relations with the UK over a wide-range of areas. As commercial relations between our two countries move from strength to strength, my office looks forward to helping British companies to do business with Taiwan.

To find out more about putting our expertise to work for your business call:

+44 (0)20 7215 8000

In terms of bilateral investment, Taiwan’s location in the Asian Pacific region makes it a gateway to other Asian markets. Taiwanese investment in the UK has grown

www.uktradeinvest.gov.uk

© April 2007 - InterTrade Media Limited. All rights reserved.

Photos courtesy of: British Trade & Cultural Office in Taipei and Dreamstime.com

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without the prior permission of InterTrade Media Limited. The views expressed in this publication are not necessarily those of the promoters involved. Whilst every effort has been made to ensure that the information in this publication is accurate, InterTrade Media Limited cannot accept any liability for loss or damage arising from facts, errors or omissions. Readers should undertake the usual commercial checks before entering into business arrangements.

InterTrade Media Limited UK, Tel: + 44 161 613 5872, Fax: + 44 161 333 5353, E-mail: info@intertrademedia.com

Taiwan 1st Edition Covers 06

1/5/07

8:43 am

Page 1

Introduction

Useful Contacts

Taiwan

Foreword by the Director of the British Trade and Cultural Office in Taipei I am delighted to contribute to this Market Essentials folder on Taiwan. Through promotion of this dynamic market British companies will be in a better position to take advantage of the growing opportunities both here and elsewhere in the region.

Taiwan is still not well known by UK companies. Its dynamic, entrepreneurial hi-tech products now account for 35% of Taiwan’s exports - higher than for Japan or South Korea. Taiwan is the world leader for much of the ICT industry. Its production of flat panel LCD screens alone is bigger than the entire GDP of some EU countries.

Michael Reilly

This is backed by continuing investment in infrastructure, such as the the new high speed railway linking Taipei and Kaohsiung and the longest road tunnel in Asia, opening up the East Coast. Taiwan is a world leader in the manufacture of semi-conductors, notebook computers, monitors, scanners and bicycles.

In terms of GDP, Taiwan has the twenty-first largest economy in the world, ranked fourth in terms of investment risk and competitiveness and fifteenth largest in trade. Its 23 million population is highly educated, with an estimated 16% holding higher education degrees, many of them from UK universities. More than 9,000 Taiwanese go to the UK for their studies every year.

Over 300 British companies already operate in Taiwan, investing some US$3 billion in fields ranging from

semiconductor components through railway infrastructure equipment to financial services.

It remains a market well suited to SMEs and is also an ideal stepping stone for companies wishing to gain access to mainland China. There are over 63,000 Taiwanese owned companies in mainland China, employing 50 million people and over 40% per cent of Taiwan’s exports go to China. A Taiwanese partner who understands the culture and the complexity of the China market can be invaluable.

The UK has to date attracted over 170 Taiwanese investors, many using their UK operation as a gateway to Europe.

These investments cover all knowledge-driven sectors across every region of the country, highlighting the clear opportunities that exist when combining the UK's excellent inward investment environment with Taiwanese entrepreneurial and manufacturing abilities.

The BTCO offers the same service to business as any British Embassy or Consulate world-wide. Our Trade & Investment team is here to help you take advantage of the many and growing opportunities in Taiwan – please do contact us. We look forward to assisting you.

The UK is Taiwan’s third largest trading partner in Europe. Among the UK’s main exports are semi-conductors, electronic components, pharmaceutical/medical supplies and beverages (it is the second largest global export market for Johnny Walker whisky). In addition, the UK holds around 30% of the Taiwanese overseas study market, with some 14,000 Taiwanese students currently studying in the UK.

UK TRADE & INVESTMENT Taiwan Desk Kingsgate House 66 - 74 Victoria Street London SW1E 6SW Contact: Paul Bathgate Tel: 020 7215 4246 Email: paul.bathgate@uktradeinvest.gov.uk Web: www.uktradeinvest.gov.uk

TAIPEI REPRESENTATIVE OFFICE IN THE UK 50 Grosvenor Gardens London SW1 0EB Contact: Dr Edgar Lin Tel: 020 7881 2650 Email: tro@taiwan-tro.uk.net Web: www.roc-taiwan.org/uk

BRITISH CHAMBER OF COMMERCE IN TAIPEI Suite 805, 8th Floor 207 Dun Hua North Road Taipei 105 Taiwan Contact: Kim Moore Tel: +886 2 2547 1199 Fax: +886 2 2547 2378 Email: info@bcctaipei.com Web: www.bcctaipei.com

BRITISH TRADE & CULTURAL OFFICE, TAIPEI 8-10 Floor, Fu Key Building 99 Renai Road, Section 2 Taipei 100 Taiwan Contact: David Percival Tel: +886 2 2192 7000 Fax: +886 2 2394 8673 Email: david.percival@fco.gov.uk Web: www.btco.org.tw

THE MINISTRY OF ECONOMIC AFFAIRS 15 Fuzhou Street Taipei 10015 Taiwan Tel: + 886 2 2321 2200 Web: www.moea.gov.tw

ASIA HOUSE 63 New Cavendish Street London W1G 7LP Contact: Stefan Kosciuszko, Chief Executive Tel: 020 7307 5454 Email: enquiries@asiahouse.co.uk Web: www.asiahouse.co.uk

BRITISH TRADE & CULTURAL OFFICE, KAOHSIUNG Unit D, 7th Floor 95 Ming-Tsu 2nd Road Kaohsiung 800 Taiwan Tel: +886 7 238 1034/1035 Fax: +886 7 238 1032 Email: btcokh@seed.net.tw Web: www.btco.org.tw

TAIWAN BRITAIN BUSINESS COUNCIL, SECRETARIAT Bay 559 UK Trade & Investment Kingsgate House 66 - 74 Victoria Street London SW1E 6SW Contact: Andrew Robinson Deputy Manager, Pacific Rim, Indonesia, Korea, Taiwan & Vietnam Tel: 020 7215 4749 Email: andrew.robinson@uktradeinvest.gov.uk Web: www.tbbc.org.tw

Introduction by the Head of the Taipei Representative Office in London

Dr Edgar Jun-Yi Lin

Commercial ties between the UK and Taiwan are strong. In 2005, bilateral trade amounted to US$5.3 billion, a 6.3% increase. The UK currently ranks as Taiwan’s 17th largest trade partner and third largest in Europe, only behind Germany and Holland. Taiwan is the UK’s seventh largest market in Asia, after China, Japan, Hong Kong, Singapore, India and Korea.

Every year we help thousands of companies like yours pinpoint new customers and opportunities overseas. As a Government organisation with a unique global network of trade & investment experts, we know how important it is to really understand your business.

Whether you are completely new to selling your products or services in international markets, looking to expand into new markets or increase your business in existing markets, we offer all the advice, information and practical support you need to make it happen. Promotion of the City and the UK financial services sector is at the heart of our agenda. We work closely with the City of London Corporation; and with International Financial Services London (IFSL) as our delivery partner in this sector.

For more information on activities and help in the financial and professional services sector contact: IFSL

As Taiwan's chief representative in the UK, I am delighted to introduce this Market Essentials folder for British businesses looking to invest in Taiwan.

It also gives me great pleasure to highlight the ninth annual joint meeting of the Taiwan-Britain Business Council (TBBC), which is taking place on the 18th to 19th April 2007 in Kaohsiung, Taiwan. Moreover, the 13th annual conference of the Council of Taiwanese Chambers of Commerce in Europe is also scheduled to take place in London, over 17th to 20th May 2007. This conference will explore ideas on business investment in Europe and Taiwan, with Dr Shih Yen-Shiang, the Deputy Minister of Economic Affairs, giving a keynote speech on investing in Taiwan.

WHERE IN THE WORLD WILL YOUR NEXT CUSTOMER COME FROM?

+44 (0)20 7213 9100

substantially since the early 1980s. By the end of 2006, UK companies had invested in 422 projects in Taiwan, with a total accumulative investment of US$4.9 billion, while Taiwanese companies had invested in 152 projects in the UK, with a total accumulative investment of US$0.5 billion. In particular, the UK has always been the first choice of destination for Taiwanese companies investing in Europe. More than 24% of Taiwanese investment in Europe is currently located in the UK, and we can expect more in the years to come.

www.ifsl.org.uk

The Taipei Representative Office in the UK, based in London, is the main representative body for the government of the Republic of China (Taiwan) in the UK. It works to promote and maintain strong bilateral relations with the UK over a wide-range of areas. As commercial relations between our two countries move from strength to strength, my office looks forward to helping British companies to do business with Taiwan.

To find out more about putting our expertise to work for your business call:

+44 (0)20 7215 8000

In terms of bilateral investment, Taiwan’s location in the Asian Pacific region makes it a gateway to other Asian markets. Taiwanese investment in the UK has grown

www.uktradeinvest.gov.uk

© April 2007 - InterTrade Media Limited. All rights reserved.

Photos courtesy of: British Trade & Cultural Office in Taipei and Dreamstime.com

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without the prior permission of InterTrade Media Limited. The views expressed in this publication are not necessarily those of the promoters involved. Whilst every effort has been made to ensure that the information in this publication is accurate, InterTrade Media Limited cannot accept any liability for loss or damage arising from facts, errors or omissions. Readers should undertake the usual commercial checks before entering into business arrangements.

InterTrade Media Limited UK, Tel: + 44 161 613 5872, Fax: + 44 161 333 5353, E-mail: info@intertrademedia.com

Taiwan 1st Edition Covers 06

1/5/07

8:43 am

Page 4

Taiwan

Access to the World Invest in Taiwan

To promote foreign investment in Taiwan, assist Taiwan companies investing abroad and recruit science and technology personnel, the Department of Investment Services (DOIS) under the Ministry of Economic Affairs, serves as a liaison between businesses and the Taiwan government, and maintains "service contact windows" to facilitate communication between foreign companies and Taiwan businesses, and government agencies and consulate offices abroad.

Market Essentials “Taiwan is a thriving, hi-tech market in its own right, well suited to SMEs. It is also an ideal stepping stone for companies wishing to gain access to mainland China.�

Michael Reilly Director of the British Trade and Cultural Office in Taipei

Department of Investment Services Tel: 886-2-23892111 http://www.dois.moea.gov.tw Invest in Taiwan Website: http://investintaiwan.nat.gov.tw/ Global Taiwanese Business Service Website: http://twbusiness.nat.gov.tw/ Hirecruit (overseas recruitment) Website http://hirecruit.nat.gov.tw/english/index.asp

TBBC

Taiwan

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 1

Introduction Welcome Message by the Co-Chairman of the Taiwan-Britain Business Council I welcome the publication of the first Market Essentials folder on Taiwan, which is being launched at the ninth annual meeting of the Taiwan Britain Business Council (TBBC) in Kaohsiung, Taiwan, on 18th and 19th April 2007.

Trade relations between Britain and Taiwan are growing stronger every year, and as they do so, commercial opportunities on both sides increase.

It is the role of the TBBC to foster, encourage and support bilateral trade and investment between Britain and Taiwan and to help businesses capitalise on the growing commercial opportunities.

Martin Barrow

The TBBC consists of senior businessmen from both Britain and Taiwan who meet formally once a year, alternately in the UK and Taiwan. We have two Co-Chairmen – one from Britain and one from Taiwan – and similarly, two deputy chairmen, plus a core membership of 10 to 15 senior executives from both sides. Together, the TBBC works as an umbrella organisation and overall framework for identifying opportunities for co-operation between the business communities of Taiwan and the UK. It was set up on the initiative of the British Department of Trade and Industry during the Taiwan-UK Trade Talks in 1997 and the inaugural annual meeting was held in Taipei in June 1999.

We work closely with government and private sector partners in Britain and the UK to identify specific opportunities

through which businesses in Taiwan and the UK can develop an understanding of their respective strengths and potential areas for co-operation; and to identify ways in which small and medium sized enterprises (SMEs) from Taiwan and the UK can better access each other’s market.

The annual meeting, which this year incorporates groups from the ICT, infrastructure & logistics and financial & professional service sectors, provides numerous opportunities to meet prospective customers and partners and, of course, to strengthen existing relationships. The meeting also seeks to identify and develop new initiatives, including in third countries. Following the short opening plenary session of the meeting itself, sector groups will hold separate simultaneous sessions with their Taiwanese counterparts. These sessions will provide a forum for discussion of in-market opportunities and challenges.

I very much look forward to welcoming you to this year’s TBBC annual meeting and, indeed, to Taiwan - a fascinating and commercially dynamic region with much to offer British businesses.

Following the end of martial law in 1987, Taiwan embarked on a programme of democratic political reforms. The first direct presidential elections were held in 1996. The election victory in 2000 of the largest opposition party, the Democratic Progressive Party, brought to an end fifty years of rule by the Kuomintang, the Nationalist Party of China.

Message by the Chairman of the British Chamber of Commerce in Taipei I’d like to extend a warm welcome to readers of this Market Essentials folder.

The British Chamber of Commerce in Taipei (BCCT) is an independent, non-government, non-profit association made up of organisations and individuals affiliated with the UK. The BCCT was founded in Taipei in 1994 in response to the view that common interests and objectives shared by members could be better served and advanced through improved co-operation and networking.

Mike Jewell

The BCCT numbers among its members many of the most prominent businesses in Taiwan. Made up of large and small corporations, individuals and overseas associations, the BCCT is a strong and cosmopolitan mixture of successful enterprises in diverse industries.

The BCCT is particularly pleased to note the growing number of Taiwan companies joining the ranks of membership, bringing truly cross-cultural representation to the pursuit of it’s primary goals.

The BCCT provides a broad range of membership functions ranging from breakfast and lunch presentations with guest speakers, to dinner forums, to informal networking evening events. The Chamber is also famed for its annual Balls – the Britannia and the St. Andrew’s Balls – both popular and sell-out events.

The BCCT enjoys a close working relationship with the British Trade and Cultural Office and the British Council, and holds periodic joint events with other foreign chambers, such as the American Chamber of Commerce in Taipei, the European Chamber of Commerce and the Australian-New Zealand Chamber of Commerce, to name a few. The BCCT also belongs to the British in Asia Pacific (BiAP) group made up of the various British Chambers in the Asia Pacific region, which meets annually to discuss issues of common concern, and to exchange of ideas.

The BCCT not only ensures that its members have a direct line to assistance and networks, but also provides a united but unbiased commercial perspective on all issues affecting British business interests in Taiwan, and Taiwan business interests in the UK. For more details, please contact BCCT office at +886-2-2547-1199 or visit our web site: www.bcctaipei.com.

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 2

TAIWAN BRITAIN BUSINESS COUNCIL (TBBC) Promoting business and investment between Taiwan and the United Kingdom OBJECTIVES The objectives of the Council are: • to encourage networking and regular contact at senior level between the private sectors of Taiwan and the UK, covering both manufacturing and service sectors • to encourage co-operation in third markets, particularly in mainland China • to identify specific opportunities through which business in Taiwan and the UK can develop an understanding of their respective strengths and areas for co-operation • to identify ways in which, including through the pursuit of specific business opportunities, small and medium sized enterprises (SMEs) from Taiwan and the UK can better access each other’s markets • to regularly review both visible and invisible trade flows between the UK and Taiwan, as well as investment flows and tourism between the two • to identify market access issues or barriers arising in either market which impede the development of trade and investment flows, and highlight these to the respective Governments • to publicise the work of the TBBC, business opportunities for UK companies in Taiwan or Taiwan companies in the UK, and the Council's successes, in order to encourage non-member companies to participate in TBBC activities, and consider the potential benefits of doing business in Taiwan

TBBC

STRUCTURE The structure of the TBBC shall be: • two co-chairmen one from the UK and one from Taiwan; • two deputy chairmen, one from the UK and one from Taiwan who shall possess full powers to deputise for the chairmen whenever necessary; • a core membership of 10-15 senior executives from Taiwan and the UK apiece; their membership on the council will reflect their respective business presences in the markets and the potential for synergy in joint venture collaboration; • The membership of the TBBC may be extended to include other business representatives from Taiwan and the UK whose presence would enhance the Council’s work and who would benefit from business co-operation within the Council’s framework.

SECRETARIAT UK Trade and Investment and the Board of Foreign Trade of Taiwan shall provide the secretariats for the TBBC. They shall also provide the organisational framework for the Council and be responsible for the recruitment of members.

TBBC

MEETINGS The council shall meet once a year alternating between Taiwan and the UK.

FRAMEWORK The TBBC will provide an umbrella organisation and overall framework for identifying opportunities for co-operation between business communities of Taiwan and the UK.

www.tbbc.org.tw

Secretariat Bay 559 UK Trade & Investment Kingsgate House 66 - 74 Victoria Street London SW1E 6SW Contact: Andrew Robinson Tel: 020 7215 4749 Email: andrew.robinson@uktradeinvest.gov.uk Web: www.tbbc.org.tw

The British Chamber of Commerce in Taipei Made up of large and small corporations, individuals and overseas associates, the Chamber is a strong and cosmopolitan mixture of successful enterprises in diverse industries. The Chamber is particularly pleased to note the growing number of Taiwan companies joining the ranks of membership, bringing truly crosscultural representation to the pursuit of its primary goals: • Promoting and developing trade and investment between the United Kingdom and Taiwan; • Facilitating communications between Britain and Taiwan by providing members of both British and Taiwan business communities with a forum to express their views on commercial and trade related issues as it affects the two countries.

BRITISH CHAMBER OF COMMERCE IN TAIPEI Suite 805, 8th Floor 207 Dun Hua North Road Taipei 105 Taiwan Contact: Kim Moore, Executive Director Tel: +886 2 2547 1199 Fax: +886 2 2547 2378 Email: info@bcctaipei.com Web: www.bcctaipei.com

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 3

Country Profile

Taiwan

Geography With a surface area of 13,804 square miles, the island of Taiwan, 100 miles off the south-east coast of China, is approximately the size of Wales.

Its territory includes around 80 smaller islands. The most important include the Pescadores, Quemoy, Matsu and Orchid islands. The first of these groups is halfway between the Chinese mainland and Taiwan. All of these islands are sparsely populated and subsist on agriculture, fishing and tourism.

Mountain ranges featuring some of the highest peaks in eastern Asia run from north to south down the island. The climate is tropical monsoon, consisting of a southern tropical zone and a northern sub-tropical zone. The average annual temperature ranges from 16.5ËšC in December to 26.6ËšC in July. It is hot and humid, with above average rainfall levels. Tropical rainstorms and typhoons are common between July and September.

The five largest cities are Taipei, Kaohsiung, Taichung, Tainan and Keelung.

Taipei, in the north of the island, is the capital and the major political, financial and commercial centre. Kaohsiung, in the south, is the principal industrial centre and second largest city, with a population of around 1.5 million people.

Taipei (Photographer: Andrew Davis)

The Taiwanese Government has recently identified machinery equipment, in particular precision tools, as its next target for becoming a "trillion dollar industry" by 2009. It is currently the world's fourth largest tool exporter, behind Japan, Germany and Italy, with exports totalling 9.6 billion Taiwanese dollars in 2006.

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 4

FORMOSA TANSNATIONAL has been established since 1974. We are a full service law firm, consisting of around 60 experienced lawyers and 10 patent engineers. We provide professional, efficient and internationalized legal services in the Mandarin, English and Japanese languages. Main areas of our practices are:

« Litigation and Arbitration

• Commercial Litigation • Property Disputes • Tort Litigation • Provisional Attachment • Admiralty Law • • Foreign Judgment Enforcement • Family and Succession Law • Appellate Practice • White-collar Criminal Law • • Filing Criminal Complaint • Private Prosecution Criminal Defense • Foreign Criminal Cases • • Administrative Appeal • Administrative Litigation •

« Corporate, Commercial and Financial Services Matters

• Company Law • Foreign Investment • Mergers and Acquisitions • Fair Trade Law • • Taxation Banking and Finance • Securities • Maritime Issues • Insurance • Labor and Employment • • Consumer Protection • International Trade • Contract Negotiation •

« Technology Law

• Patent • Trademark • Copyright • Trade Secrets • IP Management • Patent Litigation • IP Due Diligence • • Infringement Analysis • Anti-Counterfeiting • R&D Cooperation • • Technology Investment Evaluation • Licensing Negotiation • Education & Training •

n

Senior Partners • John C. Chen • Paiff Huang • Henry Hau-Ming Rai

n Partners • Horng-Shya Huang • Wellington L. Koo • Yu-Lan Kuo • Chun-Yih Cheng • Georgia Chang

• Ya-Fen Lin • Sam-Rong Hwang • Fa-Li Lin • Shuai-Sheng Huang • Delphine Chen

Taipei Head Office 15Fl., Lotus Building 136 Jen Ai Rd., Sec. 3 Taipei 106, Taiwan Tel: 886-2-2755-7366 Fax: 886-2-2755-6486 Email:ftlaw@taiwanlaw.com

Kaohsiung Branch Office 16F.-6, 38 Singuang Rd. Kaohsiung 802, Taiwan Tel: 886-7-537-1618 Fax: 886-7-537-5068 Email: ftlaw@ms1.hinet.net

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 5

Market Opportunities

Taiwan

Economic Overview During the latter half of the twentieth century, Taiwan made an enormously successful transition from an economy based largely on agriculture to one driven by a sophisticated high-tech manufacturing base.

Gross Domestic Product (GDP) has grown by an annual average of around 8% over the past three decades, with growth based around high value-added electronics and computer manufacturing and exporting.

The country’s geographical position means that its natural trading partners are largely, but not exclusively, in North East Asia. Trade and investment with China, in particular, has seen considerable growth, notwithstanding recent political tensions, and Taiwan is considered a good stepping stone into the main Chinese market. But the country also has a strong relationship with the West and is keen to develop these links further.

In terms of GDP, Taiwan is approximately the 21st largest economy in the world. Its relationship with the UK is based on trade, investment, financial

services and education. In 2006, UK exports of goods to Taiwan were worth £750 million and imports of goods from Taiwan were worth £1,900 million.

British companies are well represented in the local market, including names such as Prudential, Standard Chartered, HSBC, Aviva, Barclays Capital, Mott MacDonald, Lloyds Register, MFI and B&Q, while Taiwanese companies such as Acer, Asus, BenQ, D-link, Tatung, Evergreen Marine, Yang Ming Marine, Eva Air, China Airline and eight Taiwanese banks have a strong presence in the UK. Taiwan’s economic dynamism is rooted in industry, which started with a manufacturing boom in basic-level exported goods and progressed to technology-intensive industries, such as electrical goods and chemicals.

Today, Taiwan is one of the world’s largest producers of computer-related products and boasts an extensive, well-established network of industrial zones and a growing number of high-technology industry clusters, which are supported by high-quality human resources and fully integrated supplychain networks.

Taiwan joined the World Trade Organisation in 2002. Since then, there has been significant progress on market liberalisation in areas such as intellectual property rights, financial and legal services, healthcare and beverages. The Government has recognised that local companies must collaborate in order to remain globally competitive and have in turn demonstrated a great deal of commitment in improving transparency and ensuring a level playing field to enhance the investment environment.

IT and Telecommunications Taiwan has one of the most advanced ICT networks in the world, and offers considerable potential across the ICT sector, including Mobile and Fixed Telecommunications, Optoelectronics, Semiconductor R&D and Design, Consumer Electronics and Digital Content.

It is the World leader in Laptop Computer manufacturing with over 70% of the Global Market and the 4 Giant Display companies contribute to Taiwan being the world’s number one LCD TFT manufacturer.

Consumer Electronics remains key to Taiwan, and opportunities are increasing as companies look to establish brands and collaborate on R&D and design.

It has high penetration rates in both the fixed-line and mobile phone sectors, which has encouraged growth in telecom products and services.

In 2004, the Ministry of Economic Affairs heralded the telecommunications industry as one of Taiwan's ‘trillion dollar’ industries, which will nurture the development of wireless applications, 3G, and broadband services.

Moreover, in order to establish Taiwan as a leading regional centre for broadband communications technology, the sector classification of the sector as a strategic industry allows it to benefit from a host of investment and tax incentives.

The enormous development of Taiwan’s IT industry has also sparked a growing industrial research and development sector.

As PC-related integrated circuit (IC) design and manufacturing technology have reached world standards, it has had a beneficial impact on wireless and broadband communication products, related components and system manufacturing technology.

A growing number of Taiwanese manufacturers boast manufacturing and marketing capabilities for research and development in cutting-edge telecommunications technology and mobile phone-related products.

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 6

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 7

Market Opportunities

Taiwan

Food and Drink The food and drink sector is the fifth largest industry in Taiwan, with a significant contribution to the national economy. It is also one of the fastest growing sectors.

The imported food and drink market amounted to over £4.8 billion in 2004, an increase of 9.9% over the previous year. Categories with the fastest growth are frozen foods, confectionery, dairy products and alcohol.

Agricultural imports are dominated by the US. Wine is the fastest growing niche area in volume terms, followed by chilled desserts.

Increasing consumer demand for quality and innovative products has led to a growing focus on imported food. At the Taipei International Food Show (Food Taipei), rising numbers of foreign exhibitors are testament to the growing affluence and awareness of consumers and their appetite for foreign food and drink.

Western and Japanese lifestyles have a considerable influence in Taiwan.

Many Western and Japanese food and drink products enjoy substantial market shares. Japanese whisky, for example, is second only to Scotch whisky in terms of popularity and Rose House, a specialist English tea shop, has more than 50 stores island-wide.

There is rising demand for a wide variety of whisky and other spirits, English tea, chocolate, biscuits, wine, organic and health foods. Import tariffs have been gradually coming down since Taiwan joined the World Trade Organisation in 2002.

Organic food has proved particularly popular in the growing number of upmarket supermarkets. In addition, a number of speciality organic food stores have opened in recent years and are gaining popularity with a healthconscious public.

In a sign of growing British business success in Taiwan, UK-based bank Standard Chartered took over Hsinchu International Bank in November 2006 in a US$1.2 billion deal. Hsinchu was Taiwan's seventh-largest private sector bank, with 2.4 million consumer current accounts and 115,000 business accounts.

Leisure Marine Taiwan's leisure boat building industry has developed rapidly in the last decade and is now one of the largest in the world.

Total production grew by around 45% in 2006 and the country is now the world’s third largest builder of ‘super yachts’.

There are approximately 30 yacht builders on the island and almost 100% of their products are exported, the majority to the USA, although Europe is seen as key growth market. Horizon, Taiwan’s biggest yacht builder, is one of the top six in the world.

A sign of the market’s resurgence, Taiwan held its first International Boat & Watersports Show in December 2005, 30 years after the last boat show on the island. One of the purposes of the boat show is to raise the industry’s profile in line with the Government’s six-year ocean sports development programme and its target of doubling the number of tourists over the next five years.

Taiwan also dominates the Chinese luxury boat building industry. Virtually all pleasure boat yards in China are joint ventures with Taiwanese companies.

The boats built in China are mainly 30 to 50 foot traditional models, requiring lower levels of technical construction skills. Most of the yachts made in Taiwan are constructed from Fibre Reinforced Plastic (FRP).

In 2004, the Government passed new boat and leisure craft legislation. This makes it possible, for the first time in 50 years, for the Taiwanese to own, operate and insure craft under 24 metres, giving a huge boost to domestic demand.

The Taiwanese Government is keen to promote the industry and several yachting harbour projects are in development, including Hsin-Ta Harbour in Kaohsiung County, the centre of the boat building industry.

(Photographer: Andrew Danilov)

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 8

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 9

Market Opportunities

Taiwan

Rail Industry Taiwan has had a rail network for over one hundred years, but the first underground system only started operating in 1997.

The Government is keen to build on the development by improving public rail transport. The market covers four areas, namely, traditional railways, underground lines, high speed rail and light rail systems (trams).

It is dominated by four operators: the Government-owned Taiwan Railway Administration (TRA) and Taipei Rapid Transit Corporation (TRTC); the Taiwan High Speed Rail Corporation (THSRC) and Kaohsiung Rapid Transit Corporation (KRTC).

Although the west coast, covering eight metropolitan areas, will be included in the project plans, the initial construction of the railway projects will be focused in Taipei, Taoyuan and Hsinchu counties.

Many of the most significant infrastructure and supplier contracts have already been awarded, with Japanese and German companies having significant success. The French and Koreans have also been regular suppliers in the recent past, the latter for rolling stock. British companies have been particularly successful in winning consultancy and work on safety standards.

In the next five to ten years, the Government has announced that there will be several major new projects. For example, the Taiwan high speed rail line (US$17 billion), Kaohsiung’s underground line (US$6.1 billion), the Taipei Hsin-chuang underground line (US$4.8 billion), an improved line from Taipei to Keelung (US$800 million), the Nei-Hu line underground line (US$1.14 billion) and the CKS Airport express rail line (US$1.72 billion). The Taiwan high-speed rail project has now been operating since January 2007, reducing the normal five-hour travel time from Taipei to Kaohsiung to 90 minutes.

The common language of most Taiwanese is Mandarin Chinese. Other major languages include Holo Taiwanese, Hakka and indigenous languages. English is the most widely spoken foreign language and is taught in secondary schools.

Renewable Energy The renewable sector is a particularly strong area of opportunity for British businesses.

The Taiwanese Government is very keen to develop the sector. Its target is for the installed capacity of renewable energy to reach 10% of the total installed capacity by 2010. It is currently around 6%.

At the end of 2006, the total installed electricity generation capacity was 46,241 megawatts (MW). The total installed capacity of renewable energy is 2,719 MW. Of this total, hydropower accounts for 1911 MW, photovoltaic power is 1 MW, wind power is 188 MW, solar power is 1.8 MW and biomass power is 619 MW. Electricity generation in 2006 totalled 235.5 GWh, of which only 3.4% came from renewable energy.

According to the Taiwan Energy Policy Whitepaper (2006), for Taiwan to meet its sustainable development targets, it needs to: • facilitate the promotion and utilisation of non-carbon renewable energy • expand the utilisation of low carbon (natural gas) clean energy • adopt high efficiency power generating equipment • promote co-generation systems • improve transmission line loss • conserve energy and raise energy utilisation efficiency • rationalise energy prices • facilitate an adjustment in industrial structure The Government is now devoting considerable resources to implementing this strategy. The UK is seen as a leading centre of renewable energy expertise and a pioneer in environmental and renewable technologies, which means UK companies are well placed to capitalise on the growing focus on renewable energy in Taiwan.

Solar Panels (Photographer: Maxfx)

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 10

MOVING YOUR BUSINESS FORWARD. GLOBALLY.

DHL Global Forwarding consistently meets the ever changing needs of businesses both large and small. As you’d expect from the market leader, our extensive product range lets you balance both speed and financial efficiency, enhancing your commercial advantage each and every day.

With unlimited service combinations including air and ocean freight, plus a host of value-added benefits from cargo insurance to complete security management, you can rest assured that however large your shipment, we’ll always deliver a solution both locally and globally.

Move your business forward today – contact DHL on 01675 434834 or globalforwarding.info@dhl.com

Untitled-3 1

30/3/07 17:21:38

e h

s r

17:21:38

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 11

Market Opportunities

Taiwan

Clothing and Fashion The Taiwanese clothing and fashion retail market traditionally followed the Japanese model of large department stores which rented out floor space to smaller concessions.

The premium end of the market is dominated by European brands, particularly French and Italian. However, demand for a wider selection of luxury brands is increasing as consumer spending power rises.

However, in recent years the rise of a number of ultra-modern shopping malls and new-style department stores has invigorated the sector and led to increased opportunities for smaller, innovative retailers, distributors and producers.

British design, particularly in terms of accessories, is recognised as being cutting-edge and quirky and demand continues to grow for both innovative new designers and established British brands.

Taiwan’s fashion conscious consumers also have more spending power than ever before. GDP per head in 2006 was over US$15,500, fourth in the region behind only Japan, Singapore and Hong Kong.

Another niche for UK suppliers is menswear. Demand for high quality, but affordable luxury menswear is increasing year on year and is expected to do so for the foreseeable future.

Taiwanese imports of fashion clothing and accessories was over US$2.7 billion in 2006. Imports of footwear reached US$382 million in the same period.

Fashions in Taiwan is dominated by the influences of Japan and Hong Kong.

In general, a successful brand in either of these markets should translate to success in Taiwan. More recently, Korean fashions have also been gaining popularity in contemporary women’s wear. American pop culture is another major influence and designers from New York and Los Angeles are gaining mainstream popularity.

Marks & Spencer (M&S) announced in January 2007 that it is to launch a joint venture with one of Taiwan's leading retailers. M&S is to take a 60% stake in the new venture with Taiwan's President Chain Stores. The plan is for the still un-named venture to open two stores in Taiwan this year.

Business Etiquette Formal introductions are standard in Taiwan and shaking hands is important.

It is normal for the Taiwanese to introduce people in order of seniority and it advisable, for the sake of consistency, for visitors to do the same.

Business associates should be addressed by their title and surname, until a more informal relationship is well established. Dress should always be smart.

Business cards are essential. If printed in both Mandarin Chinese and English, present the card with the Mandarin Chinese face up. On receipt, it is polite to examine business cards for a few moments.

The custom of giving small gifts to business and personal acquaintances is common, but it is not necessary to reciprocate immediately. Gifts should be carefully wrapped in high-quality paper.

Many Taiwanese business people speak some English, but for formal meetings and negotiations an interpreter is recommended.

(Photographer: Dewitt)

Taiwan 1st Edition Inserts 06

1/5/07

8:44 am

Page 12

Key Facts

Taiwan

longer than six months, it is advisable to obtain a Taiwan Driver's Licence. In general, self-drive is not a popular option due to congestion and accident risks. Many visitors prefer to hire a car and driver through their hotel.

Full name: Taiwan.

Population: 23 million (2006).

Government: Multi-party democracy.

Head of State: President Chen Shui-bian.

Heads of Government: President Chen Shui-bian; Premier (Prime Minister) Su Tseng-chang.

Capital city: Taipei (population 2.63 million).

Air: Taoyuan international airport is about 20 miles from central Taipei. Frequent flights operate from Taipei's domestic airport (Sungshan) to cities around the island. A return flight to Kaohsiung costs about NT$2,000 and the flight time is approximately 45 minutes.

Local currency: New Taiwanese Dollar (NT).

Visas: British nationals holding a passport which is valid for at least six months do not require a visa to visit Taiwan for up to 30 days, provided they have a confirmed onward ticket and do not have a criminal record. However, no visa extensions are permitted to those who enter the country this way. British visitors intending to visit Taiwan for more than 30 days must obtain a visa. Those whose passports are valid for less than six months must also obtain a visa. All visa enquiries should be directed to the Taipei Representative Office in the UK.

Exchange rate: ÂŁ1 = 65 NT (April 2007).

Economic indicators (2006)

Other major cities: Kaohsiung, Taichung, Keelung, Taitung, Tainan, Taoyuan.

Language: Mandarin Chinese (official). Others include Holo Taiwanese and Hakka.

Dialling code from UK: 00 886.

GDP: US$355.6 billion.

Time zone: GMT +8 hours.

GDP per capita: US$15,642.

Religion: Buddhist, Confucian and Taoist (93%); Christian (4.5%), other (2.5%).

GDP growth: 4.2%.

Exports: US$224 billion.

Weights and measures: metric.

Major export markets: Hong Kong, United States, China, Europe, ASEAN, Japan.

Internet domain: .tw.

Hours of business:

Imports: US$202.7 billion.

Banks: 09.00-15.30 weekdays. 09.00-12.00 Saturdays (shortly to become a work-free day).

Business: 09.00-17.30 weekdays. 09.00-12.00 Saturdays (shortly to become a work-free day).

Car hire: Any foreigner who wishes to drive in Taiwan must have a valid driver's licence. For short stay visitors, an International Driver's Permit issued outside Taiwan will suffice, but for stays

Cingshui Cliff in Hualien County

Major sources of imports: Japan, ASEAN, United States, Europe, China.

Natural resources: Small deposits of coal, natural gas, limestone, marble.

Unemployment rate: 3.9% (2006).

Kaohsiung City

Taiwan 1st Edition Covers 06

1/5/07

8:43 am

Page 4

Taiwan

Access to the World Invest in Taiwan

To promote foreign investment in Taiwan, assist Taiwan companies investing abroad and recruit science and technology personnel, the Department of Investment Services (DOIS) under the Ministry of Economic Affairs, serves as a liaison between businesses and the Taiwan government, and maintains "service contact windows" to facilitate communication between foreign companies and Taiwan businesses, and government agencies and consulate offices abroad.

Market Essentials “Taiwan is a thriving, hi-tech market in its own right, well suited to SMEs. It is also an ideal stepping stone for companies wishing to gain access to mainland China.�

Michael Reilly Director of the British Trade and Cultural Office in Taipei

Department of Investment Services Tel: 886-2-23892111 http://www.dois.moea.gov.tw Invest in Taiwan Website: http://investintaiwan.nat.gov.tw/ Global Taiwanese Business Service Website: http://twbusiness.nat.gov.tw/ Hirecruit (overseas recruitment) Website http://hirecruit.nat.gov.tw/english/index.asp

TBBC

Taiwan

Taiwan 1st Edition Covers 06

1/5/07

8:43 am

Page 1

Introduction

Useful Contacts

Taiwan

Foreword by the Director of the British Trade and Cultural Office in Taipei I am delighted to contribute to this Market Essentials folder on Taiwan. Through promotion of this dynamic market British companies will be in a better position to take advantage of the growing opportunities both here and elsewhere in the region.

Taiwan is still not well known by UK companies. Its dynamic, entrepreneurial hi-tech products now account for 35% of Taiwan’s exports - higher than for Japan or South Korea. Taiwan is the world leader for much of the ICT industry. Its production of flat panel LCD screens alone is bigger than the entire GDP of some EU countries.

Michael Reilly

This is backed by continuing investment in infrastructure, such as the the new high speed railway linking Taipei and Kaohsiung and the longest road tunnel in Asia, opening up the East Coast. Taiwan is a world leader in the manufacture of semi-conductors, notebook computers, monitors, scanners and bicycles.

In terms of GDP, Taiwan has the twenty-first largest economy in the world, ranked fourth in terms of investment risk and competitiveness and fifteenth largest in trade. Its 23 million population is highly educated, with an estimated 16% holding higher education degrees, many of them from UK universities. More than 9,000 Taiwanese go to the UK for their studies every year.

Over 300 British companies already operate in Taiwan, investing some US$3 billion in fields ranging from

semiconductor components through railway infrastructure equipment to financial services.

It remains a market well suited to SMEs and is also an ideal stepping stone for companies wishing to gain access to mainland China. There are over 63,000 Taiwanese owned companies in mainland China, employing 50 million people and over 40% per cent of Taiwan’s exports go to China. A Taiwanese partner who understands the culture and the complexity of the China market can be invaluable.

The UK has to date attracted over 170 Taiwanese investors, many using their UK operation as a gateway to Europe.

These investments cover all knowledge-driven sectors across every region of the country, highlighting the clear opportunities that exist when combining the UK's excellent inward investment environment with Taiwanese entrepreneurial and manufacturing abilities.

The BTCO offers the same service to business as any British Embassy or Consulate world-wide. Our Trade & Investment team is here to help you take advantage of the many and growing opportunities in Taiwan – please do contact us. We look forward to assisting you.

The UK is Taiwan’s third largest trading partner in Europe. Among the UK’s main exports are semi-conductors, electronic components, pharmaceutical/medical supplies and beverages (it is the second largest global export market for Johnny Walker whisky). In addition, the UK holds around 30% of the Taiwanese overseas study market, with some 14,000 Taiwanese students currently studying in the UK.

UK TRADE & INVESTMENT Taiwan Desk Kingsgate House 66 - 74 Victoria Street London SW1E 6SW Contact: Paul Bathgate Tel: 020 7215 4246 Email: paul.bathgate@uktradeinvest.gov.uk Web: www.uktradeinvest.gov.uk

TAIPEI REPRESENTATIVE OFFICE IN THE UK 50 Grosvenor Gardens London SW1 0EB Contact: Dr Edgar Lin Tel: 020 7881 2650 Email: tro@taiwan-tro.uk.net Web: www.roc-taiwan.org/uk

BRITISH CHAMBER OF COMMERCE IN TAIPEI Suite 805, 8th Floor 207 Dun Hua North Road Taipei 105 Taiwan Contact: Kim Moore Tel: +886 2 2547 1199 Fax: +886 2 2547 2378 Email: info@bcctaipei.com Web: www.bcctaipei.com

BRITISH TRADE & CULTURAL OFFICE, TAIPEI 8-10 Floor, Fu Key Building 99 Renai Road, Section 2 Taipei 100 Taiwan Contact: David Percival Tel: +886 2 2192 7000 Fax: +886 2 2394 8673 Email: david.percival@fco.gov.uk Web: www.btco.org.tw

THE MINISTRY OF ECONOMIC AFFAIRS 15 Fuzhou Street Taipei 10015 Taiwan Tel: + 886 2 2321 2200 Web: www.moea.gov.tw

ASIA HOUSE 63 New Cavendish Street London W1G 7LP Contact: Stefan Kosciuszko, Chief Executive Tel: 020 7307 5454 Email: enquiries@asiahouse.co.uk Web: www.asiahouse.co.uk

BRITISH TRADE & CULTURAL OFFICE, KAOHSIUNG Unit D, 7th Floor 95 Ming-Tsu 2nd Road Kaohsiung 800 Taiwan Tel: +886 7 238 1034/1035 Fax: +886 7 238 1032 Email: btcokh@seed.net.tw Web: www.btco.org.tw

TAIWAN BRITAIN BUSINESS COUNCIL, SECRETARIAT Bay 559 UK Trade & Investment Kingsgate House 66 - 74 Victoria Street London SW1E 6SW Contact: Andrew Robinson Deputy Manager, Pacific Rim, Indonesia, Korea, Taiwan & Vietnam Tel: 020 7215 4749 Email: andrew.robinson@uktradeinvest.gov.uk Web: www.tbbc.org.tw

Introduction by the Head of the Taipei Representative Office in London

Dr Edgar Jun-Yi Lin

Commercial ties between the UK and Taiwan are strong. In 2005, bilateral trade amounted to US$5.3 billion, a 6.3% increase. The UK currently ranks as Taiwan’s 17th largest trade partner and third largest in Europe, only behind Germany and Holland. Taiwan is the UK’s seventh largest market in Asia, after China, Japan, Hong Kong, Singapore, India and Korea.

Every year we help thousands of companies like yours pinpoint new customers and opportunities overseas. As a Government organisation with a unique global network of trade & investment experts, we know how important it is to really understand your business.

Whether you are completely new to selling your products or services in international markets, looking to expand into new markets or increase your business in existing markets, we offer all the advice, information and practical support you need to make it happen. Promotion of the City and the UK financial services sector is at the heart of our agenda. We work closely with the City of London Corporation; and with International Financial Services London (IFSL) as our delivery partner in this sector.

For more information on activities and help in the financial and professional services sector contact: IFSL

As Taiwan's chief representative in the UK, I am delighted to introduce this Market Essentials folder for British businesses looking to invest in Taiwan.

It also gives me great pleasure to highlight the ninth annual joint meeting of the Taiwan-Britain Business Council (TBBC), which is taking place on the 18th to 19th April 2007 in Kaohsiung, Taiwan. Moreover, the 13th annual conference of the Council of Taiwanese Chambers of Commerce in Europe is also scheduled to take place in London, over 17th to 20th May 2007. This conference will explore ideas on business investment in Europe and Taiwan, with Dr Shih Yen-Shiang, the Deputy Minister of Economic Affairs, giving a keynote speech on investing in Taiwan.

WHERE IN THE WORLD WILL YOUR NEXT CUSTOMER COME FROM?

+44 (0)20 7213 9100

substantially since the early 1980s. By the end of 2006, UK companies had invested in 422 projects in Taiwan, with a total accumulative investment of US$4.9 billion, while Taiwanese companies had invested in 152 projects in the UK, with a total accumulative investment of US$0.5 billion. In particular, the UK has always been the first choice of destination for Taiwanese companies investing in Europe. More than 24% of Taiwanese investment in Europe is currently located in the UK, and we can expect more in the years to come.

www.ifsl.org.uk

The Taipei Representative Office in the UK, based in London, is the main representative body for the government of the Republic of China (Taiwan) in the UK. It works to promote and maintain strong bilateral relations with the UK over a wide-range of areas. As commercial relations between our two countries move from strength to strength, my office looks forward to helping British companies to do business with Taiwan.

To find out more about putting our expertise to work for your business call:

+44 (0)20 7215 8000

In terms of bilateral investment, Taiwan’s location in the Asian Pacific region makes it a gateway to other Asian markets. Taiwanese investment in the UK has grown

www.uktradeinvest.gov.uk

© April 2007 - InterTrade Media Limited. All rights reserved.

Photos courtesy of: British Trade & Cultural Office in Taipei and Dreamstime.com

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without the prior permission of InterTrade Media Limited. The views expressed in this publication are not necessarily those of the promoters involved. Whilst every effort has been made to ensure that the information in this publication is accurate, InterTrade Media Limited cannot accept any liability for loss or damage arising from facts, errors or omissions. Readers should undertake the usual commercial checks before entering into business arrangements.

InterTrade Media Limited UK, Tel: + 44 161 613 5872, Fax: + 44 161 333 5353, E-mail: info@intertrademedia.com