Taiwanese trade mission due

A high-level Taiwanese trade mission is set to visit the country this week to look for possible trade opportunities, Taipei Economic and Cultural Office (TECO) representative Benjamin J. Y. Lo said yesterday.

The Taiwanese trade mission will be led by Trade Representative Lin Hsin-I and will be composed of 61 delegates representing 46 top Taiwanese companies.

Hsin-I is scheduled to meet with Trade Secretary Manuel Roxas II to discuss various trade matters.

According to Lo, trade between the Philippines and Taiwan remains strong and in favor of the Philippines.

In the first three months of the year alone, total trade between the Philippines and Taiwan amounted to $956 million.

However, the first quarter trade figure was 9.76 percent lower compared with last year’s $1.059 billion.

Lo said the trade mission is different from an investment mission.

Taiwanese investors, Lo said, would have to make their own assessment about investing in the country following the spate of kidnappings in the south.

But Lo said Taiwanese investments in the country may pick up following the continued improvement of a bilateral air agreement between the Philippines and Taiwan.

"One more issue that could lead to more Taiwanese investments in the Philippines, is if both countries finally sign an agreement on doable taxation," Lo said.