Media Release: Edmonton Global and the IEAT partner to promote trade between Taiwan and the Edmonton Metropolitan Region
EDMONTON (SEPT. 26, 2022) — Edmonton Global and the Importers and Exporters Association of Taipei (IEAT), Taiwan’s largest and most influential trade organization, announced a new Memorandum of Understanding (MOU) during a virtual signing ceremony on September 26, 2022. The agreement will enhance cooperation in promoting trade and investment between the Edmonton Metropolitan Region and Taiwan.
The MOU highlights collaboration in key areas such as imports and exports, investment, information sharing and other commercially orientated activities. The IEAT and Edmonton Global agreed to collaboratively promote trade and economic ties between the two organizations, facilitate the collaboration of small and medium enterprises in the two regions to access new markets; reinforce bilateral cooperation and further develop third-party markets; to notify and assist in hosting events, and exchange trade and market information of their respective goods and services.
“The business opportunities between both countries and the companies that we represent will be significant,” says Malcolm Bruce, CEO of Edmonton Global. “I look forward to what this relationship brings to our region and abroad.”
“The Edmonton region is not only the economic hub of central Alberta but also the cultural and educational centre of the province,” says Chairman of American Affairs Committee Hsu-Shun Tsung, IEAT. “With a population of about 1.4 million and a GDP of over $105 billion, the Edmonton region is the fifth largest economy in Canada and holds great potential for future economic growth,” he continued. “By establishing a sisterly relationship between IEAT and Edmonton Global, we can open new avenues for the flow of business information and creation of trade opportunities.”
“With dedicated clusters to commercialize our ideas, and drive the development of green technology, Taiwan is an ideal partner for Alberta,” says Angel Liu, Director General, TECO. “I am confident that the new partnership between IEAT and Edmonton Global will serve as a cornerstone for many synergies between Taiwanese and Albertan business communities.”
In 2021, Taiwan became Canada’s 11th largest trading partner in the world (up from 15th in 2020) and the fifth largest in Asia after China, Japan, South Korea, and Vietnam. In 2022, coal, fertilizer, cobalt, pork, and pet foods are Canada’s top five export products to Taiwan; Much of Canada’s pet food exports to Taiwan come from Champion Pet Foods in the Edmonton region.
Founded in 1947, the Importers and Exporters Association of Taipei (IEAT) is Taiwan’s largest and most influential trade organization with members from all major cities. Its current membership exceeds 6,200 companies, of which 1,300 are engaged in manufacturing and 3,500 in importing. These companies account for 40 percent of Taiwan’s total trade value and 600,000 jobs. IEAT has signed partnership MOUs with 152 major trade and business associations worldwide.
The purpose of Edmonton Global is to radically transform and grow the economy of the Edmonton Metropolitan Region. We are a not-for-profit corporation founded by 14 municipalities that make up the Edmonton Metropolitan Region. Our focus is attracting foreign investment, helping regional businesses export with the world, enhancing our region’s global competitiveness, and bringing our region together with a unified voice to attract the attention and interest of investors the world over.