Taiwanese organisations are keen to partner with Queensland’s best enterprises in order to achieve a global impact.
That was the key message at the recent Australia-Taiwan Business Council conference in Taipei.
More than 190 leaders from the Australia-Taiwan business community attended the conference, including representatives from Queensland’s New Hope and Whitehaven coal companies, The University of Queensland, and the International Water Centre at Griffith University.
Talks focused on business opportunities arising from the Taiwan Government’s New Southbound Policy, which aims to enhance cooperation and exchanges between Taiwan and 18 countries in South East Asia, South Asia and Australasia.
Queensland Trade and Investment Commissioner for Taiwan Patrick Hafenstein said Queensland already enjoyed the strongest trade relationship with Taiwan of any Australian state and territory.
‘Queensland initiatives were very much highlighted at the conference,’ he said.
‘For example, delegates referred to the lychee research initiative being undertaken by the Taiwan Agricultural Research Institute and the Queensland Department of Agriculture and Fisheries, the Alzheimer’s trials between QUT and Taiwanese Golden Technology, and the recent baseball cross-promotion of the Brisbane Bandits and the Chinese Professional Baseball League in Taiwan.
‘Taiwanese investors also have major interests in Queensland, including the Shayher Group, which has invested $1 billion in the Brisbane Quarter development.
‘And Taiwanese banks now have combined resident assets of $6.1 billion in Australia, with 5 different banks represented in Brisbane.’
Mr Hafenstein said Queensland business should think not just about exporting to Taiwan but also about partnering with Taiwanese organisations to achieve greater global impact.
‘I think we’re now ready to move into the next phase of our relationship with Taiwan,’ he said.
‘Queensland companies should be looking to partner with Taiwanese companies to co-produce cutting-edge products to export to global markets.
‘For example, combining Taiwan’s expertise in hardware and software with Australia’s expertise in the mining, agricultural and health sectors to achieve breakthroughs in areas such as agtech, biotech, greentech, edtech, foodtech and so on.’
The joint Australia-Taiwan Business Council/ROC-Australia Business Council conference ran from 30 to 31 August in Taipei.
TIQ’s Taiwan office can provide advice and support to Queensland businesses wanting to enter the Taiwanese market, and to Taiwanese investors seeking investment-ready Queensland projects.
Taiwan is Queensland’s fourth-largest export market, and is identified as one of the state’s priority markets in the Queensland Trade and Investment Strategy 2017–2022.