Taipei, Nov. 7, 2012 (CENS)--Taiwan Association of Machinery Industry (TAMI) and its Japanese counterpart, the Japan Machinery Federation (JMF), will sign an agreement in March next year to better compete against rapidly rising South Korean competitors, according to TAMI Chairman H.T. Hsu, who says the agreement will enhance cooperation and technical exchanges and inspire Japanese machinery makers to invest in Taiwan.
Cooperation between Taiwanese and Japanese machinery industries against South Korean’s is necessary as Japanese electronics, 3C and machinery sectors feel mounting pressure from South Korean manufacturers.
TAMI and JMF agreed to sign the pact during the 26th Japan International Machinery Tool Fair which was held Nov. 1-6 in Tokyo, attracting 816 manufacturers and over 100,000 visitors.
The Japanese machinery federation is made up of 70 some members divided into general machinery, electrical machinery, transportation equipment, precision instruments and measurement instruments, and metal products, casting and forging categories.
Hsu pointed out that Japanese machinery makers have stepped up investing in Taiwan after the signing of the Economic Cooperation Framework Agreement (ECFA) between Taiwan and China, with these investments helping Japanese companies in cutting cost. For instance, Tatung-Okuma Co., Ltd., a joint venture between Tatung Corp. of Taiwan and Okuma Corp. of Japan, ships over 100 lathes at lower cost to Japan every month.
