Taiwan records almost 20pct rise in exports to Mexico

Taipei, July 26 (CNA) Taiwan’s exports to Mexico for the first half of the year rose almost 20 percent from a year earlier, amid a 4.7 percent decline in its total exports due to weakening global demand, Taiwan’s representative office in the Latin American country said Thursday.

In the first six months of the year, Taiwan’s exports to Mexico totalled about $837 million, an increase of 18.2 percent from the previous year, the representative office said, citing customs data.

The figures for the first quarter of the year show a year-on-year increase of 38.26 percent in Taiwan’s exports to Mexico, the office said.

The main products sold to Mexico included components for liquid crystal display devices, printed circuit boards, cell phones, steel products, artificial fibers, lamps for vehicle use, motorbike tires, machine tools for plastic product manufacturing, and surveillance cameras, the representative office said.

Taiwan’s representative to Mexico Lee Hsin-ying said the North American country has become one of the most important nations in the region, with a population of about 110 million and per capita gross national product (GNP) of $14,000.

The growth in Taiwan’s exports to Mexico in the past six months was the result of increasing investments by Taiwanese firms in the Latin American country, Lee said.

He noted that Mexico has been invited to engage in the negotiations to sign the Trans-Pacific Partnership (TPP) pact, a multilateral free trade agreement that is being negotiated by Australia, Vietnam, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and the United States.

Mexico, therefore, can serve as a springboard for Taiwan to enter other markets in North and Latin America, Lee said.

More Taiwanese investors are expected to relocate their funds from China and Southeast Asia to Mexico next year, Lee said, adding that his office will offer them the necessary assistance.

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Category: Taiwan