It already helps if you have a structured approach for your procurement and to keep your options open. Working with a local consultant or agency may help to identify more potential suppliers and to get the products that you just bought accross the border to their destination.
Taiwan, an island nation in East Asia, boasts a robust economy driven by its advanced technology sector and manufacturing prowess. The country is globally recognized for its expertise in electronics manufacturing, particularly semiconductors and computer hardware. Taiwanese companies such as TSMC (Taiwan Semiconductor Manufacturing Company) are leaders in semiconductor fabrication, playing a critical role in powering the global tech industry with cutting-edge chip technology.
In addition to electronics, Taiwan excels in precision machinery and equipment manufacturing. It produces high-quality machinery for various industries, including machine tools, industrial automation equipment, and precision components. Taiwanese manufacturers are known for their reliability, precision, and innovation in these sectors, contributing to Taiwan’s reputation as a global manufacturing hub.
Wages in Taiwan are moderate compared to other developed East Asian countries like Japan and South Korea. While not as low as some Southeast Asian nations, Taiwan’s wages reflect its skilled workforce and advanced industrial capabilities. The cost of living in major cities such as Taipei and Kaohsiung is relatively higher, influencing disposable income levels and operational costs for businesses.
Taiwan also has a strong agricultural sector, producing rice, fruits, and vegetables for domestic consumption and export. The country’s agricultural exports include tropical fruits like pineapples and mangoes, which are popular in international markets.
Furthermore, Taiwan is committed to sustainability and green technology. It has made significant strides in renewable energy, particularly in solar photovoltaics and offshore wind power. Taiwanese companies are actively involved in manufacturing solar panels and wind turbines, contributing to global efforts toward clean energy solutions.
If you purchase tangible products, you have to ship them out of the country. Depending on the country where you want these goods, this may have implications.
First of all you may have to pay import duties or settle VAT. There are certain thresholds for both of these charges, e.g. while importing in the EU you don’t have to pay import duties on any shipment worth less than € 150.
There may also be non-financial barriers, like certifications or approvals to be obtained. Especially for food, cosmetics or medicine this may be the case. Check this in advance, even before you invest in your marketing.
Almost every country or trade block in the world has its own detailing on the international HS-code list. With our report you strongly reduce the risk on misclassifications, delays and higher custom duties than expected.
Tell us what you want to ship and where to and we ask you all relevant questions to get to the most likely code.
Step 1
Try to identify in total 6 to 10 possible suppliers and check their websites. Approach them with a general request to see whether they have the products or services you need.
Step 2
Submit your requirements to a group of three to five selected suppliers and ensure you get the right comparable quotations to make a choice. Negotiate with one or two of them to get the best result.
Step 3
Now start collaborating, making sure you have an efficient ordering process and limited risks where it comes to quality control and shipping the products.