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Taiwan eyes deeper trade ties with India

NEW DELHI: Taiwan today said it is looking at enhancing trade and investment ties with India, especially through collaboration in sectors such as IT, food processing and tourism. 

"We would like to collaborate with India on sectors like information technology, food processing and tourism," said Chung-Kwang Tien, Representative of the Taipei Economic and Cultural Center in India. 

"India and Taiwan can sign an economic cooperation agreement which will reduce barriers and increase trade volume. Besides, India should consider easing visa restrictions and providing Taiwan with a visa on arrival facility to boost tourism," Tien said at a Taiwan Excellence 2013 Campaign event here. 

The two countries have already signed an investment promotion and protection agreement. 

"We want to promote trade and commerce given the fact that India is an emerging market. It has a big labour force, rich natural resources and a young population, which are important ingredients for future development," Tien said. 

foreign direct investment from Taiwan stood at USD 65.56 million in 2011-12 which was 0.04 per cent in the total FDI flow to India. 

"We would like to increase the volume of trade with India by 10 per cent in the current fiscal," Tien said. 

At present, around 80 Taiwanese companies are operating in India in various sectors. However, Indian companies' presence in Taiwan is still negligible. 

Bollywood actress Malaika Arora Khan has been associated with the Campaign for the last three years and is its celebrity spokesperson.