Exporting to Taiwan
Links to China
Since the early 2000s, Taiwan’s economic links with China have grown significantly. There are now frequent direct flights, major investments by Taiwanese companies in China, and high levels of trade across the Taiwan Strait. In certain sectors, Taiwan can be a platform for developing business with China, given cultural links and shared language. The current administration is also trying to develop stronger economic ties with South East Asia.
Taiwan’s administration has introduced an industrial innovation programme to promote sectors seen as key for its development. These include green energy, the Internet of Things (IoT) and smart machinery.
Hi-tech world leaders
Taiwanese firms are world leaders in several hi-tech manufacturing sectors, such as laptops, servers, smartphone components and solar panels. They’re renowned for providing contract manufacturing services.
Opportunities for exporters
There are opportunities for UK companies across a broad range of industries. Our trade advisers in Taiwan have identified particular opportunities for UK businesses in the following sectors:
Systems and software integration
Taiwan is a world leader in hardware for 5G, IoT and AI applications and there is a huge opportunity for the integration of UK systems and software into its companies’ global supply chains.
Search for new markets
Taiwan’s world-leading hardware companies have built their businesses in the United States and Asia (mostly China). There is interest at the top of these companies to explore collaboration opportunities with UK tech firms. This is both to improve their positioning among the competition and to help them break into new European markets.
Strength in innovation
Innovation is a key strength of Taiwan’s economy. It ranks 13th out of 140 economies in the 2018 World Economic Forum’s Global Competitiveness Report and fourth on innovation (World Economic Forum, 2018). It has exceptional experience in commercialisation and scaling-up of technology, which makes it an ideal partner for the UK’s strengths in research.
Food and drink
Taiwan’s food and drinks sector is one of the market’s fastest growing. Local supermarkets are increasing ranges of imported foods to meet demand. In 2018, Taiwan granted market access for UK pork products.
The market for youth fashion in Taiwan is strongly influenced by Japanese and Korean styles and trends. Due to the increasing demand for quality products, there are opportunities in contemporary menswear and ladieswear, premium accessories and sportswear.
Whisky and other spirits
Taiwan is a lucrative market for Scotch Whisky. There is a particularly high demand for premium-brand whiskies, and gin is becoming increasingly popular.