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Entering Foreign Markets(Taiwan) Essay

8973 words - 36 pages

Product and Target Market Planning1)Product ConceptCompetitive Advantages* According to Researhers taiwan will import more products especially organic foods,pulses,and electronics* Demand for organic food including grains, beans, lentils, tree nuts and dehydrated fruits is increasing. Among beverages, herb teas, apple juice and vegetable juice are in demand. (2004 The Economist Intelligence Unit)* Imports of organic food are high and the US is the main supplier. (İgeme 2005)* The land and climate are not good enough to do farming .Typhoons hit the island regularly between July and September, and occasionally cause substantial damage.* Because of scarcty of land ,farming in Taiwan is ...view middle of the document...

Thanks to ongoing internal reforms across a wide range of areas, as well as favorable international economic environment, the Taiwanese economy is moving on a healthy track after the economic slump at the beginning of this century. In 2004, the economic growth rate reached 5.7 percent, showing significant growth from the 3.3 percent in 2003.The economic performance in the first eight months of 2005 indicated mild growth of 3.65 percent. The values of exports and imports over the period reached US$119.87 billion and US$120.95 billion--an increase of 11.2 percent and 6.7 percent respectively over the same period last year. The performance is not at all impressive as compared with the 25.96 percent surge in 2004, or the US$341.9 billion in total trade value, indicating that challenges remain in Taiwan's development.With respect to foreign direct investment, Taiwan continues to be an active player, currently ranking as one of the top four foreign investors in China, Malaysia, Vietnam and Cambodia. Moreover, while inward investment has not been very encouraging in recent years, in 2004 it experienced a slight upturn, with total investment value climbing to US$3.95 billion. It is hoped the trend will continue in 2005.It is noteworthy that this growth, thanks mainly to liberalization of such important sectors as the fixed-line telecommunications and financial services, remains well above the historical level before 1997. This suggests that a gradual improvement in the domestic investment environment has encouraged more foreign investors to explore the domestic market and set up operational or regional bases for neighboring markets.The results of surveys conducted by some international organizations also hint at positive signs of Taiwan's performance in the past year. For example, in the 2005 World Competitiveness Yearbook issued by the Switzerland-based IMD, Taiwan was ranked 11th for overall competitiveness, while in 2004 it was ranked 12th. The only two Asian economies ranked higher than Taiwan were Hong Kong and Singapore. In the category of economic performance, Taiwan was ranked 18th, showing improvement from the 24th spot it held the previous year.Moreover, according to the 2004-2005 Global Competitiveness Report issued by the World Economic Forum, Taiwan's growth competitiveness has improved steadily over time, with its global ranking improving to fourth from seventh in 2001. Taiwan's ranking of digital access and network readiness has also improved over past years.Taiwan's attempts to strengthen ties with international and regional trade communities have been somewhat successful. Since Jan. 1, 2002, when Taiwan completed its decade-long accession process to become a member of the World Trade Organization, it has sought to contribute to the world trade system not only by faithfully implementing its accession obligations, but also by participating actively in the Doha Round of trade negotiations.Taiwan also contributed by donating to the Doha...

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