Taiwan and Myanmar are looking to boost bilateral economic ties. Taiwan will support Myanmar with capacity building and technical assistance in core sectors including textile and food processing.
Technology transfer from Taiwan is the main priority as Myanmar plans to expand its manufacturing capacity in export-oriented sectors like garments and textiles. Taiwan has advanced technology in agro-based food products and by using the latest technology manages to produce a wide range of value-added products. Taiwan has successfully transformed itself from an agricultural society into an industrial one with incessant efforts by both the public and private sectors. Both countries have agreed to prioritise two sectors: textiles and food processing. The cooperation would be strengthened through a number of training programs.
Taiwanese investors’ interest in Myanmar is also on the rise. This will not only stimulate the industrial upgrading of Myanmar but also extend the market for Taiwan’s industry, achieving mutual benefits on a win-win basis.
Bilateral trade volume has increased five-fold over the past three years. Vegetables and textile products are the top two categories that Taiwan imports from Myanmar. Mostly, Myanmar imports machinery, mechanical and electrical products from Taiwan. The training programs for workers, supervisors and technical staff at factories could yield tangible benefits for Myanmar’s garment industry.