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Exporting to Republic of China (Taiwan)

Taiwan

TAIWAN
Actual population* Population world ranking
23,359,928 52
Actual GDP (PPP)* GDP world ranking
$926,400,000,000 21
Actual GDP (per capita)* GDP (per capita) world ranking
$39,600 28

*See the end of this blog for definitions

Taiwan, also known as the Republic of China and Chinese Taipei, has strong business opportunities available. The country is located in an excellent place in the Asia-Pacific region to help companies expand their business worldwide.

Market research is needed to choose the best market entry strategy. It may be by selecting a local agent or setting up a branch office. Due diligence is advised before entering into any business relationship. Resources for information include the United States Commercial Service and the United Kingdom Trade and Investment.

Several business resources are offered by the government of Taiwan. The Ministry of Economic Affairs, R.O.C. has a website which provides a business guide that includes information on industrial development, international trade, commerce, and guidance for small and medium enterprises. Another source is Taiwan’s Small and Medium Enterprise Administration website. The Department of Investment Services offers a website, Invest in Taiwan, which gives basic guides related to doing business in Taiwan.

Knowing the business customs and etiquette are essential for excellent business relationships, such as what is the appropriate dress code and when tipping is expected. Included with a formal business introduction should be an exchange of business cards. Since a business card is expected with nearly every business occurrence, have a good supply when meeting with clients. A number of resources are available to assist a company. Among them are the United States Commercial Service and the United Kingdom Trade and Investment.

Regulations and custom requirements need to be researched. Taiwan has specific rules that need to be followed. The Customs Administration, Republic of China website gives import/export information. Other sources for information include the Bureau of Foreign Trade, MOEA, the United States Commercial
Service
, and the United Kingdom Trade and Investment.

Taiwan is located in East Asia and is a member of the World Trade Organization and the Asia-Pacific Economic Cooperation.NEMA 5-15

Mandarin is the official language, but the Taiwanese dialect is also commonly spoken. English is a popular foreign language with many people being fluent in it.

In Taiwan, the voltage used is 110/220V at 60Hz. The most frequently specified plug patterns are the NEMA 5-15 and NEMA 1-15 plugs.

Sources:
www.export.gov/taiwan
www.gov.uk
www.moea.gov.tw
www.moeasmea.gov.tw
http://investtaiwan.nat.gov.tw
http://eweb.customs.gov.tw
www.trade.gov.tw

*Source: www.cia.gov/library/publications/resources/the-world-factbook/index.html

Country comparison—Population: Population compares estimates from the US Bureau of Census based on statistics from population censuses, vital statistics, registration systems, or sample surveys pertaining to the recent past and on assumptions about future trends. (July 2014 est.)

Country comparison—GDP (Purchasing Power Parity): GDP (purchasing power parity [PPP]) compares the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation’s GDP at PPP exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. (2013 est.)

Country comparison—GDP – per capita (PPP): GDP – per capita (PPP) compares GDP on a purchasing parity basis divided by population as of 1 July for the same year. (2013 est.)