Taiwan is keen on strengthening business ties with Punjab and is looking forward for trade ties in the field of agro and food processing industry. Stating this here on Monday,while speaking at a business interactive organised by the PHD Chamber of Commerce and Industry at PHD House,former Ambassador and leader of the delegation of Taiwan,Wenchyi Philip Ong said there is a lot of scope for trade and investment in Punjab.
The 20-member delegation visited PHD Chamber as part of the continuing efforts to increase bilateral trade and investments between Taiwan and India. The delegates represented food processing,retail,engineering,procurement,construction (EPC),and heavy engineering industry.
Ong said that in 2011,two-way trade between the two countries stood at $7.4 billion,adding that there was an expectation that trade with India will reach $10 billion in the next three to four years. Bilateral trade potential of the two nations has not been fully tapped yet and both India and Taiwan can join hands.
Stating that future trade prospects between the two countries are significant,Dalip Sharma,regional director,PHD Chamber,said,Both nations need to accelerate the efforts for strengthening of bilateral economic cooperation,particularly in view of the current economic scenario.