A delegation of eight Philippine automotive and motorcycle parts companies is set to join two trade missions in Taiwan later this month, in a bid to explore strategic partnerships with auto parts importers, equipment suppliers and potential investors.
In a statement, the Department of Trade and Industry said the Outbound Business Mission (OBM) and the Taipei International Auto Parts and Accessories (AMPA) 2012 trade show will usher in newly created partnerships with the Taiwan automotive sector organizations.
For this year’s event, Nito Seiki Corp., Famous Secret Precision, Inc., OEM Parts Mfg. Corp., Narida Auto Parts Corp., Fravinz Enterprises, Inc., MD Juan Enterprises. Inc., Centro Manufacturing Corp., and Hardware Labs Performance System will constitute the Mission.
In addition to showcasing their products during the trade show, business meetings are being arranged by Trade Senior Trade Representative Dita Angara-Mathay for the delegation.
The Philippine Trade and Investment Center (PTIC) in Taipei reported that the Philippine participation in the AMPA 2011 Show resulted in booked and negotiated sales worth $17.6 million while potential three-year revenues for various OEM contracts were estimated to reach $42 million.
Last year’s trade show drew up 54,000 registered buyers from the US, Europe, Australia, Japan, ASEAN, India and PRC.
“The DTI recognized the opportunities in Taiwan for the local parts manufacturing industry both in the market for replacement parts as well as OEM opportunities that combine Taiwanese technology with the expanded and specialized production capacities in the Philippines,” Mathay said.
“With Asean moving towards a single market, the Philippine automotive industry, together with partners from Taiwan, are expected to take advantage of new opportunities for market expansion,” Mathay added.
The Philippine delegation is set to showcase its various capabilities on casting, stamping, forging and tooling, and auto products like crank pin, bushing, starter, alternator and distributor, radiator, motor vehicle bodies, exhaust pipe and muffler and other assorted auto components and sub-assemblies.
The promotional activity is jointly coordinated by the Bureau of Export Trade Promotion (BETP), the export marketing arm of the DTI, the Motor Vehicle Parts Manufacturers Association of the Philippines, the Philippine Trade and Investment Office- Taipei, and with the full support of the Manila Economic and Cultural Office-Taipei.