Taiwan’s largest aquaculture companies are investing in the Philippines as their production hub for seafood exports to Taiwan and ASEAN countries, reports Manila Bulletin.
Patty Yen, deputy executive director for strategic marketing department of Taiwan External Trade Development Council, said investment is under way after the two countries agreed to cooperate more closely in the promotion of aquaculture in the country.
Earlier this year, Taiwan and the Philippines signed a memorandum of understanding to increase bilateral aquaculture partnerships.
Yen was speaking during a trade mission to the Philippines focusing on aquaculture. During the mission, ten of the biggest aquaculture firms in Taiwan participated in networking and business matching events with potential local partners. At least 70 Filipino aquaculture companies participated in a networking and business matching session at the Manila Hotel.