Green Tech Has Potential To Boost Malaysia-Taiwan Trade

KUALA LUMPUR, May 10 (Bernama) -- Emerging economic sectors such as green technology has the potential to increase trade and investment between Malaysia and Taiwan in future, says Malaysian Green Business Association President Mustafa Mansur. He said given Taiwan's expertise in the green technology sector, Malaysia can benefit through technology transfer as well as joint-venture initiatives. "According to the Earth Policy Institute, Taiwan ranks third in the current world producer of photovoltaic accounting for about 15 per cent of the market share and together with China, share 60 per cent of the world's solar photovoltaic market. "On the other hand, Taiwan is also one of the world's largest light-emitting diode (LED) manufacturing countries with output values at about US$1.6 billion in 2008," said Mustafa on the sidelines of Green Technology Business Seminar. Last year, the total bilateral trade between Malaysia and Taiwan stood at US$15.6 billion (RM47.888 billion), an increase of 13.6 per cent from 2010. At the same event, Deputy Representative (Economic Affairs) of Taipei Economic and Cultural Office in Malaysia, Lin Min-Li said for the first four months of 2012, total trade dipped four per cent to US$4.55 billion when compared with the corresponding quarter last year. "This year, we are only expecting total trade to touch US$15 billion, down from last year because Taiwan and most countries in the region are in the midst of recovering from the financial crisis that have slowed down market movements in the West," he said. Malaysia is Taiwan's ninth largest trading partner while Taiwan is Malaysia's seventh largest partner. (US$1 = RM3.06) -- BERNAMA