Chinese Business Site - Asian Business Practices : Business Opportunities in Taiwan

Trade and Business Opportunities in Taiwan

Trade and Business Opportunities in Taiwan

There are a multitude of trade and investment opportunities for exporters in the Taiwan market. Some of the major sectors currently experiencing rapid growth are: processed food and beverages, gambling, transport, IT and telecommunications, minerals and energy, environment protection, building construction products and services. Three of the major growth industries though are the exporting of seafood, meet and wine products.

Seafood

Lobster, abalone and crab are the major Australian seafood items exported to Taiwan from Australia, and find their way readily on to Taiwanese banquet tables for special occasions such as weddings, birthdays, moving house, graduation and gaining a promotion. These seafood products are especially desirable in Chinese culture because of the significance of the colour red, which is seen by the Chinese as a lucky symbol. Also, as with Japan, Taiwan is an island and so seafood is a traditional staple in Taiwanese diets.

Meet

Taiwan has limited production of beef for local consumption, and this means that Australia has been a major supplier of beef and lamb. While Australian beef is popular in supermarkets, American beef is still preferred in higher-class restaurants. Game meat is not popular all year round, but during winter, special Australian meets such as emu are popular, as the Chinese believe that special foods should be consumed in winter. Items such as kangaroo and possum meat, however, are stilled banned in Taiwan due to quarantine restrictions.

Wine

Wine wad not popular in Taiwan until about five years ago when annual wine consumption started to increase. However, the sudden popularity of wine created a large boom in wine imports, and oversupply in the market has resulted in exiting of many small-scale importers and the wine stock problem. Increasing numbers of people with high incomes have begun to drink wine instead of spirits, and the health benefits of drinking wine has lead to an increase in wine drinkers as well. Many hotels and restaurants now offer their clients a Western culinary culture in which wine plays a major role.

Address a person using his or her family name only. The family name comes first and is usually one syllable. For example, in the case of Lee Teng-hui, Lee is the family name and Teng-hui is the given name. Or in Lai Pan Fu, Lai is the family name. In some instances, Westernized Taiwanese might reverse their names when visiting and sending correspondence abroad. Therefore, it is always a good idea to ask a native speaker which name is the family name. Western given names have become increasingly common with the younger generation in Taiwan, such as Eric Lai, or Joy Cheng.

For business purposes, it is traditionally acceptable to call a Taiwanese person by the surname, together with a title such as "Director Wang" or "Chairman Fu." Avoid using someone's given name unless you have known him or her for a long period of time. Formality is a sign of respect, and it is advisable to clarify how you will address someone very early in the relationship, generally during your first meeting.

The Taiwanese way of greeting is a nod or a slight bow. However, when interacting with Westerners, Taiwanese often shake hands. Keep in mind that a soft handshake or lack of eye contact does not necessarily indicate a lack of assertiveness or sincerity in a Taiwanese person. It only implies that the person in not accustomed to the firm handshakes or direct eye contact commonly used in the West. Do not try to become too friendly or informal too soon, and do not insist that they call you by your given name. The Western pattern of quick informality should be resisted.

In Taiwan, it is assumed that the first person that enters the room is the head of the group. Westerners should observe this convention so as not to confuse their hosts. Important guests are usually escorted to their seats. If the meeting room has a large central table, the principal guest is likely to be seated directly opposite the principal host.

When exchanging business cards, hold out your card with your right hand with the writing facing the recipient. Cards should always be exchanged individually (one-on-one). Never toss or "deal" your business card across the table, as this is considered extremely rude. Receive a business card with both hands and scan it immediately for the vital information. Then lay the card in front of you during that first meeting. It is demeaning to put someone's card directly into your pocket without looking at it first.

Meetings begin with small talk. Resist the temptation to get down to business right away. Avoid telling Western-style jokes, because jokes sometimes do not translate across cultures and can cause confusion or hurt feelings.

It is appropriate to bring a gift, particularly something representative of your town or region, to a business meeting or social event. Gifts indicate that you are interested in building a relationship. A gift should always be wrapped, but avoid plain black or white paper because these are the colors of mourning. Present the gift with both hands as a sign of courtesy and always mention that this is only a small token of appreciation. Do not expect your gift to be opened in your presence. This indicates that it is the thought that counts more than the material value.

Never give a clock, handkerchief, umbrella or white flowers, specifically chrysanthemums, as all of these signify tears and/or death. Do not give sharp objects such as knives or scissors as they would signify the cutting of a relationship. Never give a handkerchief as it suggests tears or parting.
Lucky numbers are 6 and 8 (especially in a series, such as 66 or 888). An unlucky number is 4.