TTCC Director: Bilateral Trade btw Egypt, Taiwan Reached $507 Million in 2020

Cairo hosted an event today to announce the launch of "The Taiwan International Fastener Show" in April 2022 in Taiwan.

The event is organized by the Bureau of Foreign Trade, Ministry of Economic Affairs in Taiwan, the Taiwan Trade Center,

Mr. Sameh Zaki, Vice Chairman of Cairo Chamber of Commerce, Eng. Mohamed Elmenshawy, Head of Machine & equipment at Engineering Chamber Federation of Industries attended the event, joined by many Egyptian businessmen, to know the latest innovations in the 'fastener' industry, including table-top presentations for the top participating companies in Taiwan.

Michael Yeh, Director of the Taiwan Trade Center in Cairo (TTCC), said: "The bilateral trade between Egypt and Taiwan reached US$507 million in 2020, increasing 10.9% over 2019. Of this figure, Egypt exports to Taiwan accounted for US$125 million, up by 92.81% compared to 2019, while Taiwanese exports to Egypt accounted for US$382 million, decrease by 2.6% year-on-year".

He added: "We are happy to further support the trading channels between the two countries. After its absence in 2020 due to Covid-19, the sixth edition of "The Taiwan International Fastener Show (Fastener Taiwan)" is an important event for many Egyptian businessmen who regularly visit for the latest innovations in the 'fastener' products for their businesses."

Fastener Taiwan will launch on April 9-21, 2022 in Kaohsiung City, Taiwan. This gathering of the world’s leading B2B fastener industry leaders is a one-stop-shop to conduct business with stakeholders across the global supply chain.

According to the statistics from Customs Administration, Ministry of Finance, nearly 75% of screws and bolts manufactured in Taiwan are exported, making the country a top industry player. In terms of export value, Taiwan ranked third in 2020 with NT$110.6 billion (US$3.97 billion), following China and Germany.

As of 2019, more than 1,800 manufacturers of screws, bolts, nuts, and rivets in Taiwan. Among these, a cluster of 700 factories is mostly based in Kaohsiung. On the basis of existing industrial advantages, Fastener Taiwan 2022 will feature all-inclusive fastener products, including Nuts, Bolts, and Screws, Fastener Manufacturing Equipment, Fastener Tools, Meters & Instruments, and Wire & Raw Materials. The exhibition will present invaluable global industry insights on the fastener industry’s supply chains and trends.

The previous edition of Fastener Taiwan in 2018 marked a record high, featuring 415 exhibitors and over 1,100 booths. In 2022, the exhibition provides exhibitors and buyers with a complete virtual and real integrated digital marketing platform. Hybrid online & offline events such as online exhibitions, global fastener summit, live tours, matchmaking, and networking. TAITRA also continuously assists the exhibitor to enhance the marketing visibility and create global business opportunities. For more updated information and register Fastener Taiwan 2022, visit www.fastenertaiwan.com.tw.