2022 Malaysia-Taiwan bilateral trade 36.2% higher y-o-y

KUALA LUMPUR – Malaysia-Taiwan bilateral trade grew 36.2% to total US$36.6 billion (RM166.5 billion) in 2022 supported by global supply chain demand. 

Taipei Economic and Cultural Office in Malaysia economic division director James Chang said Taiwan exported a lot of its electric and electronic (E&E) products to Malaysia. 

Similarly, Malaysia’s E&E products were also exported to Taiwan, he said at the Taiwan Excellence Pavilion during the Malaysia International Architecture, Interior Design, and Building Materials Exhibition (ARCHIDEX) today. 

However, the bilateral trade between the two countries saw a decrease for the first half of this year compared to the same period a year ago due to the global economic slowdown, said Chang. 

He said Malaysia is a key focus of Taiwan’s New Southbound Policy and Taiwan also holds significant importance as a trading and investment partner for Malaysia. 

Meanwhile, the Taiwan Excellence Pavilion featured 10 award-winning companies in the smart home living and building materials sectors. The pavilion was jointly organised by the Bureau of Foreign Trade and the Taiwan External Trade Development Council (TAITRA).

A total of 17 Taiwan-developed carbon-reducing, energy-saving green building materials, and intelligent living applications were showcased at the event which started today and ends on Saturday.

The common thread running through many of the products featured at the event demonstrate the innovative value in terms of research and development, design and quality. 

One of the exhibitors Innolux Corp aims to enter the Malaysian market with its smart windows which automatically adjust lighting to significantly reduce energy consumption. 

Its technical general director James Hsu said the company is seeking to partner with local companies.

“We will try to find a potential partner from Malaysia to help us enlarge our market. We are actually a professional display manufacturer, not a building materials manufacturer. That’s why we need to engage with local companies to help us understand what is needed in the Malaysian market,” he said. – Bernama, July 26, 2023