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Thursday, October 19, 2017

Taipei seeks more aquaculture trade with PH

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By Bernie Cahiles-Magkilat

Taiwan External Trade Development Council (TAITRA) is leading a delegation of top ten Taiwanese traders into the country to boost bilateral trade of aquaculture products.

In a statement, TAITA said the mission will be visiting the country on next week, Sept. 25-30, to explore potential aquaculture trade and business opportunities.

The Taiwan Aquaculture Industry Trade Mission 2017 is the very first delegation designed and executed by TAITRA to specifically promote bilateral aquaculture trade, and serves to reinforce business relations between the Philippines and Taiwan, which received a boost at the 22nd Taiwan-Philippines Joint Economic Conference 2016.

Ranking 5th in the global aquaculture market, the Philippines is known for its resourceful coastlines, inland ponds and lake farms for natural breeding in the wild, and for supplying 2.34 million tons of grouper, tilapia, seaweeds, shell fish and more worldwide. The Bureau of Fisheries and Aquatic Resources (BFAR) in the Philippines expressed confidence that they will complete 252 community fish landing centers (CFLCs) and further increase its fish production by 14.4 percent before 2020.

The 2016-2020 Comprehensive Fisheries Industry Development Plan outlines the use of these aquaculture interventions, particularly for seaweeds, shellfish, food fishes, and other high value species. Each CFLC costs R2.85 million and consists of post-harvest equipment and tools that will enable local fishermen to reduce post-harvest loss, preserve the quality of their catch, and enable them to sell at a higher price.

Taiwan is an intensive aquaculture farming and disease control stronghold, ranking a global 19th, despite its size.  Taiwan enjoys an export-oriented, vigorous, industrial economy and over the last several decades, Taiwan has shown both speed and flexibility in supplying a wide array of products of consistent quality, meeting the world’s highest of expectations. Given this fantastic opportunity for closer ties with the Philippines, Taiwan would be thrilled to exchange best practices and merge Taiwanese aquaculture know-how and the latest technology, to help re-engineer the Philippines’ aquaculture infrastructure, and facilitate the increased importation of quality marine and farmed species to Taiwan in the future.

Bilateral trade between the Philippines and Taiwan has maintained its strength, reaching over $10.86 billion in 2016, making the Philippines the eighth largest export country, and the twenty-second largest import country to Taiwan.

In 2016, the Philippines exported over $2.2 billion worth of products to Taiwan, an increase of 0.78 percent versus 2015. These were mainly from electronic integrated circuits, data processors, petroleum oils, electronic motors and generators, parts and accessories for machines, diodes and transistors, etc.

The Taiwanese market accounted for 3.92 percent among the Philippines’ total export in 2016.  In the same year, the Philippines imported US$8.6 billion of products from Taiwan, an increase of 0.2 percent in 2015, mainly from petroleum oils, electronic integrated circuits, auxiliary plants, printed circuit, copper bars, fabric, iron or non-alloy steel, parts and accessories for motor vehicles, and more. Taiwanese products accounted for 10.68 percent of the Philippines’ total imports in 2016.

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