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2019 Trade Mission to Latin America Produced Fruitful Results in Expanding Sales in Emerging Markets

Source: Taiwantrade | Updated: 01 November 2019

Co-sponsored by the Bureau of Foreign Trade, MOEA and TAITRA, the "2019 Trade Mission to Latin America", from August 31st to September 16th, has visited Sao Paulo, Brazil; Buenos Aires, Argentina; Lima, Peru; and Medellin, Colombia where four business events were held to increase the sale channels and export opportunities for Taiwanese suppliers to penetrate the Latin American market.

       In 2018, Taiwan’s exports to Brazil grew by 6.3%, indicating that the Brazilian market continues to recover, as its intermediate goods required for industrial development depend on imports. Confined by the impact of currency depreciation and inflation, Argentina's economic growth in 2019 was limited, but its increased exports are expected to drive the country's economic development. In 2018, Taiwan’s exports to Peru increased by 22.5%, showing a good sign that Peru’s industrial development grew rapidly and domestic demand has been rising. In recent years, the performance of Colombian economy has been quite eye-catching as its import and export trade has increased year after year and its consumer and business confidence has continued to rise.

       Consisting of 21 Taiwanese entrepreneurs from such industries as automobile and motorcycle spare parts, machinery, electronic communication and hardware, these delegations not only exhibited products in the events, but also conducted trade negotiations and business matchmaking with local buyers, agents and distributors. According to our historical records, the Trade Mission to Latin America has helped many first-time participants to gain orders, which have kept on pouring in ever since. For this 2019 mission, many delegations said that aside from negotiating with potential buyers, they were also grateful that the trip has greatly enhanced their knowledge and understanding of the Latin American market and they look forward to maintaining links with local buyers to increase the possibility of future cooperation. Highly affirming the results of this mission, many delegates have expressed their wish to participate in such trade missions in the future.


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