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Taiwan-Malaysia to record US$14.5b in trade
by hlk Tue 12 Jul 2011, 18:00
KUALA LUMPUR:Bilateral trade between Taiwan and Malaysia is expected to increase to US$14.5 billion (US$1=RM2.99) this year from US$13.67 billion in 2010, said Taipei Economic and Culture Office in Malaysia.
It said total trade for the first half of the year has touched US$7 billion.
Its deputy representative (economic affairs), Lin Min-Li, said bilateral trade volume has grown over the years and food and beverages was one area that was great importance.
He said Taiwan and Malaysia had good trade relations.
"Taiwan is the eighth largest trading partner of Malaysia and the fifth largest foreign investor in the country.
"In addition, many Taiwanese food and beverage franchises have also established strong presence in Malaysia for the past few years and their successes were a testament to the long-term potentials in Malaysia," he told Bernama here today.
Food and beverage is one of the areas that has garnered much optimism and the 2010 Malaysia-Taiwan processed food trade totalled US$147.57 million, an increase of 35.9 per cent from 2009.
On whether the concern over food safety would dampen consumer confidence, Lin said, it would have an impact on the food sector.
However, he said, Taiwanese products would regain confidence given the firm action taken to address the issue.
"Taiwan's health authority has inspected 22,129 classes of shelf items and 16,046 manufacturers, equivalent to a top-to-end inspection of the entire Taiwanese food manufacturing and retail industry," he said.
Lin said of the 22,129 items tested, 945 were suspected as Taiwanese food producers used clouding agent (a food additive) sourced from two irresponsible manufacturers using plastics additive Di-Ethyl Hexyl Phthalate (DEHP) to replace palm oil.
"The authority has stopped the operations of the two clouding agent manufacturers and there are no more food processing using DEHP as clouding agent.
"The controversial products have been taken off the shelves after detailed and rigorous examination, and consumers can rest assured that no contaminated products will enter Malaysia," he said. - Bernama
It said total trade for the first half of the year has touched US$7 billion.
Its deputy representative (economic affairs), Lin Min-Li, said bilateral trade volume has grown over the years and food and beverages was one area that was great importance.
He said Taiwan and Malaysia had good trade relations.
"Taiwan is the eighth largest trading partner of Malaysia and the fifth largest foreign investor in the country.
"In addition, many Taiwanese food and beverage franchises have also established strong presence in Malaysia for the past few years and their successes were a testament to the long-term potentials in Malaysia," he told Bernama here today.
Food and beverage is one of the areas that has garnered much optimism and the 2010 Malaysia-Taiwan processed food trade totalled US$147.57 million, an increase of 35.9 per cent from 2009.
On whether the concern over food safety would dampen consumer confidence, Lin said, it would have an impact on the food sector.
However, he said, Taiwanese products would regain confidence given the firm action taken to address the issue.
"Taiwan's health authority has inspected 22,129 classes of shelf items and 16,046 manufacturers, equivalent to a top-to-end inspection of the entire Taiwanese food manufacturing and retail industry," he said.
Lin said of the 22,129 items tested, 945 were suspected as Taiwanese food producers used clouding agent (a food additive) sourced from two irresponsible manufacturers using plastics additive Di-Ethyl Hexyl Phthalate (DEHP) to replace palm oil.
"The authority has stopped the operations of the two clouding agent manufacturers and there are no more food processing using DEHP as clouding agent.
"The controversial products have been taken off the shelves after detailed and rigorous examination, and consumers can rest assured that no contaminated products will enter Malaysia," he said. - Bernama
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