10 Taiwanese firms hunting for opportunities in booming aquaculture industry in Philippines
Ten Taiwanese companies will visit the Philippines next week to explore business opportunities in the country’s aquaculture market, the Taiwan External Trade Development Council (TAITRA) said.
In a statement, TAITRA said Taiwanese aquaculture exporters and importers were looking at the vast opportunities in the Philippines , the fifth largest aquaculture market globally, with its rich inland ponds and lake farms for breeding.
The country supplies 2.34 million tons of grouper, tilapia, seaweeds, and shellfish worldwide.
Taiwanese firms are hoping to ride on the aquaculture sector’s target to increase fish production by 14.4 percent by 2020 with the establishment of 252 community fish landing centers (CFLC)to reduce post-harvest losses and increase the earnings of local fishermen.
“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,” Taiwan’s trade promotion groups said.
The 10 Taiwanese firms that will explore business opportunities here next week are Tai-Yih Sun Industrial Co. Ltd., Caofon Machinery Industry Co. Ltd., EZ Smart Enterprise Co. Ltd., Toford Plastic Manufacturing Corp., Yuang Hsian Metal Industrial Corp., Taiwan Fishing Village Ltd., Shye Yih Feeding Co. Ltd., Magqu Co. Ltd., Tenzon Co. Ltd., and Duo Sheng International Co. Ltd.
In 2016, bilateral trade between the Philippines and Taiwan reached US$10.86 billion. (PNA)