The International Trade Bureau of the Ministry of Economic Affairs and the International Trade Association held the “Central and Eastern European Market Online Sales Group” on October 28. A total of 33 Taiwanese companies and 125 Central and Eastern European buyers participated. One-to-one negotiation sessions were held for 300 sessions, starting at 3 pm It lasted until late at night, and the atmosphere was warm and praised by Chinese industry players. The follow-up business opportunities are expected to reach 17 million U.S. dollars.
Among the participating Taiwanese companies, this time is 4 medical-related manufacturers and traders, 12 mechanical equipment and hardware parts companies, 9 auto parts, and 8 high-quality information and communication companies, and many of them are well-known companies listed on the OTC. Such as Delta Electronics, Dongshuo Information, Fuxiang Technology, etc.
In addition, with the assistance of the 7 foreign units of the Trade Association and the Lithuanian-Wilnius Chamber of Commerce, it also recruited buyers from 7 Eastern European countries (Poland, Ukraine, Russia, Lithuania, Bulgaria, Romania, and Hungary), including KAMAZ-Russia’s largest truck manufacturer KMPO-Russia’s major aviation and machinery manufacturing company, Hungarian well-known industrial automation manufacturer COM-FORTH with a 30-year history, and many new entrepreneurs from Bulgaria and Romania, etc., have one-on-one video talks.
It is learned that the EU’s key policy for post-epidemic recovery in July is to strengthen the overall level of digitalization in Europe. From today’s negotiations, it can be found that the demand for information and communication products in Central and Eastern European countries has grown substantially, and the enthusiasm for business opportunities can be derived from the group’s communication industry. Marathon negotiation can be a glimpse. For example, Qiao Yao Electronics is favored by many Hungarian industrial automation system vendors based on industrial computer motherboards, and the 7-hour negotiation has never stopped, and you have 24 years of experience in barcode scanner manufacturing. Furthermore, to catch up with the wave of European automation and digitalization of business opportunities after the epidemic, 14 negotiations were obtained. Manager Zhang of the department said that since the outbreak of the epidemic, he has not seen so many European buyers for a long time, and it is worthwhile to negotiate late at night.
Delta Electronics has a base in Poland. The X-ray machine transformers that are the main product of this time have not entered Europe before. However, through the assistance of overseas units of the Trade Association, they contacted Ukrainian and Hungarian medical equipment manufacturers. The follow-up business opportunities will see millions of dollars. Manager Chen of Yida Precision said that many buyers in Central and Eastern Europe whose purchasing needs are imported through simple processing and assembly, and then sold to Western Europe again. Therefore, the product quality is quite demanding. Many buyers like Yida Precision to produce cemented carbide stands with German machine tools. The milling cutter is quite in line with the European business model of seeking truth from facts. The Trade Association and overseas units remind the industry that the European market has a high degree of integration. Many European Chambers will compare Taiwanese products with those of European countries, and will not be price-oriented. Our business needs to continue to improve the competitiveness of its own products and focus on Europe. Market demand, establish a relationship of mutual trust, and enter Europe.
Central and Eastern Europe cover a total of 24 countries. Affected by the epidemic, the average economic growth rate in 2020 is -5.2%, but it is expected to still have an average growth rate of 4.1% in 2021, making it the market with the most sales potential in the European market. In terms of market size, the Central and Eastern European market has nearly half of the European population, and in recent years has become the first choice for Taiwanese manufacturers to enter the European market. The largest populations are Russia, Ukraine, Poland, and Romania. In addition, the three small Baltic countries, which are important hubs in Europe, and Lithuania, which is adjacent to Poland and ranks first in population, are worthy of further attention and sales expansion by Chinese industry players.
Looking at the local industries, Central and Eastern Europe is known as the Detroit of Europe and has become an important development base for the automotive industry. In addition to the Czech automotive industry with a long history, Hungary and Bulgaria are the most important in Europe due to their excellent geographical location and high-skilled labor standards. One of the producing countries of auto parts. Based on the analysis of trade structure items between Taiwan and Central and Eastern Europe, small passenger cars are important items imported by Taiwan from Central and Eastern Europe. The export items are mainly information communication, hardware and semiconductor parts. Although global trade has been affected by the epidemic, it has fallen sharply. From January to September, China’s exports to Europe and communications products grew against the trend. Compared with last year, China’s exports to Europe grew by 6.3%, while exports to Eastern Europe grew by 15.6%. This boosted China’s exports to Bulgaria and Hungary, showing positive growth. Communication products are quite competitive in the Central and Eastern European market.
Contact supervisor in this case:
Li Wenzheng, Deputy Director, Market Development Division, Foreign Trade Association