Taipei, Nov. 8, 2012 (CENS)--President Ma Ying-jeou said he Cto generate annual revenue up to NT$1 trillion (US$34.4 billion at US$1: NT$29) in 2013.
Ma made the remarks when speaking at the opening ceremony of the 2012 Taiwan International Machine Tool Show held in Taichung, central Taiwan.
Ma said that Taiwan should serve as a manufacturer of key-components and precision-equipment in the global trade chain in the future and the island's machine-tool manufacturing is exactly a pivotal industry crucial to the success in this regard.
The Ministry of Economic Affairs (MOEA) has come up with a project that will trigger NT$100 billion (US$3.4 billion) worth of investments in Taiwan's pivotal industries and create 10,000 new jobs in the industries within three years.
Ma said Taiwan's machinery production value has grown one and a half folds over the past decade, with that of the machine-tool segment alone surging two and a half folds. He added that in the competition against mainland China, European Union and the United States, Taiwan's machine tool industry remains in a disadvantageous position although the Taiwan industry is likely to advance to the world's No.3 place from No.4 this year in terms of exports.
So, he stressed that Taiwan needs to push harder for free trade agreement policy so that it can be integrated into more free trade bodies and thus make its products more competitive.
According to chairman of Taiwan Machine Tool & Accessory Builders' Association, Eric Chou, Taiwan is already the world's No.6 machine-tool manufacturer with 2011 revenue of US$5.26 billion, increasing 35% from 2010. Last year, Taiwan shipped US$4 billion of machine tools worldwide. In spite of weak global economy this year, Taiwan's machine tool exports will still increase by an estimated 5%, he said.
Chou projected a bright outlook for global machine tool market in 2013 as President Barack Obama has been reelected to his second term and mainland China's new leadership will be decided soon.
(by Ken Liu)
