The diversification of the global supply chain has led to changing global dynamics and the Taiwan-Japan Business Cooperation Seminar in Malaysia was held in Kuala Lumpur today to discuss the issues amongst industry players.
The seminar gathered nearly a hundred representatives from both Taiwanese and Japanese enterprise association as well as Malaysian industry players with the aim to facilitate discussions and experiences sharing.
Commissioned by the Bureau of Foreign Trade, Taiwan External Trade Development Council (TAITRA), in collaboration with the Japan External Trade Organization (JETRO), the event built upon the TAIWAN EXPO 2023 in Malaysia to promote Taiwan-Japan supply chain cooperation and jointly expand into the ASEAN market.
During the opening remarks, Taipei Economic and Cultural Office in Malaysia Director of the Economic Division James Chang, Director of Economic Division, and Embassy of Japan in Malaysia Economic Counsellor Masashi Hosomi emphasized the strong and longstanding technical and trade cooperation between Taiwan and Japan.
They also highlighted Malaysia’s robust business environment which has made it one of the most favorable target markets for joint operations.
James Chang pointed out that the “Taiwan-Japan Cooperation in the Developing ASEAN Market Project” is in its seventh year since its inception in 2017.
During this period, more than 80 cooperative projects have been developed. Notably, Japanese major trading companies actively sought collaboration opportunities with Taiwanese businesses, which resulted in many successful partnerships in exploring the new southern markets and established effective supply chain relationships.
These developments not only enhanced their competitiveness but also made significant contributions to the local economy.
The seminar covered a diverse range of topics, including the characteristics of Taiwanese and Japanese industries, as well as market conditions in Malaysia. The roster of prominent speakers include:
- Taiwan Chamber of Commerce & Industry in Malaysia (TWCHAM) President Lin Kai Min, and, Japanese Chamber of Trade & Industry, Malaysia (JACTIM) Chief Coordination Officer Kazuya Kitae, who shared information about Taiwanese and Japanese businesses in Malaysia.
- Insights into the Malaysian consumer market were provided by Datuk Dr. Tang Yong Chew, President of The Federation of Alumni Association of Taiwan Universities, Malaysia, and Ririna Yamamoto, Project Officer of JETRO KL.
- Johnson Fitness Malaysia Executive Vice President CK Moo, and FAN JAPAN, Inc. General Manager Takahiro Gokita, exchanged experiences related to market expansion.
Lin Kai Min, President of TWCHAM, expressed that Taiwanese businesses are not only accelerating their upgrade in traditional industries and advancing rapidly towards intelligent and automated processes, but also actively venturing into innovative areas such as smart healthcare and green energy, in line with the New Southbound Policy.
Kazuya Kitae, CCO of JACTIM, echoed the sentiments that that most Japanese companies in Malaysia are optimistic about the positive future prospects driven by new business development in the electrical and electronic industries, the adoption of electric vehicle, and growth in the wholesale and retail markets.
The cooperation between Taiwan and Japan can complement each other in the supply chain, and through platforms such as seminars like this, industrial sharing and exchanges can further facilitate collaboration between Taiwanese and Japanese industries.
Johnson Fitness, a Taiwanese company which exemplified the fitness and health market, stands as one of the largest Taiwanese enterprises in Malaysia. Its Executive Vice President CK Moo emphasized the principles of “excellent quality and dedicated management.” Malaysia’s market is very promising, and these values are bound to receive high recognition and positive feedback.
Despite challenges arising from the pandemic and political fluctuations, Malaysia has been very effective in stabilizing its market and possesses a high receptiveness to new products and positive developments in agriculture, technology, manufacturing, and services industries. Taiwanese and Japanese businesses are optimistic about the potential business opportunities in the country.
The “Taiwan-Japan Business Cooperation Seminar in Malaysia” is the third stop in the expansion into the New Southbound countries this year, following successful seminars in India and Thailand. The outcomes discussed during the event serve as valuable reference information for Taiwanese and Japanese companies as they further venture into these three major markets.
