Stating that the bilateral trade potential of the two nations had not been fully tapped, Taiwan’s Ambassador to India C. K. Tien on Tuesday said both India and Taiwan should join hands in the field of IT/software, hardware, electronics, automotive components, food processing, agri-technology and education to build international brands.

“We are working with the Indian government for working out an Economic Cooperation Agreement (ECA), on the lines of free trade agreement (FTA), to pep up the trade volumes and economic cooperation between the two nations. We have the capital and hardware and can work hand in hand with Indian IT and software companies to build an international brand for India. We have great strengths in the food processing sector and India needs induction of technology in this areas as nearly 40 per cent of its fruits and vegetables go waste after harvesting. We could also help India in the field of agriculture with higher yields per acre. Taiwan has one of the highest per acre yields and this is especially important in light of the Food Security Bill passed by Indian Parliament which could entail enhanced food grains output,” Mr. Tien said.

Mr. Tien said Taiwan had a strong education base and the cost of education was almost half to what one has to pay in US and European countries. “We have universities which are recognised among the top 100 institutions of the world. We feel India as a huge nation and its strategic location provides massive opportunity. We want to make India as a major manufacturing hub working through each other’s strengths,” he added.

The Taiwanese Ambassador said India and Taiwan will on September 2 release the Joint Feasibility Report on forging a closer economic partnership which could set the ball rolling for a wider ECA. Mr. Tien said Taiwan will hold their EMMA (electronics, machines, moulds and auto parts) Expo in Chennai from September 5-7. The country has also come up with “I bring Taiwan to India” concept to facilitate purchase of Taiwan products without burdening Indian businessmen from travelling to Taiwan.