KUALA LUMPUR- Economic ties and trade between Malaysia and Taiwan are expected to grow following the setting up of the Malaysia-Taiwan Trade Federation Association (MTTFA).
A ceremony was held to mark the inauguration of the MTTFA and to introduce the newly appointed 15 council members.
In his address when officiating the MTTFA, Minister in the Prime Minister's Department Datuk Seri Dr Wee Ka Siong urged members from both sides to work harder to increase bi-lateral economic activities between the two countries.
He cited the Government Transformation Programme and Economic Transformation Programme as positive moves by Malaysia to create a more conducive business environment for investors.
In 2013, Dr Wee said the trade between the two nations stood at USDM16.3bil (RM43.13bil), an increase of 13 per cent compared to two years ago.
He expressed confidence that the setting up of the MTTFA would help boost Malaysia-Taiwan trade.
Present at the event were MTTFA honorary president Datuk Seri Tiong King Sing who is also Malaysia's special envoy to East Asia, Taiwan's Political Deputy Minister for Education Dr Huang Pi Twan and Taipei Economic and Cultural Office representative Lo Yu Chung.