Taiwan-Philippines Fishery Pact Creates New Opportunity for Fishery Enterprises to Expand Overseas Market
- Update
- 2015-12-12
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Taiwan-Philippines Fishery Pact Creates New Opportunity for Fishery Enterprises to Expand Overseas Market
After the signing of the Taiwan-Philippines Agreement Concerning the Facilitation of Cooperation on Law Enforcement in Fisheries Matters, the first instance of investment from Taiwanese fishery enterprise took place in Tarlac province, the Philippines. The Taiwanese firm Grobest Group inaugurated its first-phase feed production plant on Dec. 2, and Minister of the Council of Agriculture Chen Bao-ji attended the ceremony with Deputy Minister Sha Chih-yi. Minister Chen praised the group's continuous efforts on technology development and hopes that the investment expansion would become an example of Taiwan's fishery and agricultural achievement to shine in the world for all other enterprises in Taiwan willing to step into the overseas market.
The COA further explained that the Grobest Group has been involved in the fishery industry for 4 decades as a major importer of fish meal. Its production of aquatic compound feed takes up 17.6% share of the domestic market, making it a major contributor to the aquaculture industry development in Taiwan. In recent years, the company has successfully entered the field of aquaculture, processing and marketing, as well as livestock feed manufacturing. Grobest’s corporate strategy is to retain its core technological competence in Taiwan while targeting the global market. This principle led to the three-phase feed manufacturing facility investment project in Tarlac Province with an area of 14.2 hectares and a total investment of over US$22 million. The facility will be destined for the production of aqua feed, livestock feed, and aquatic animal larvae. This naturally boosts the fishery development of Taiwan and increases the supply of aquatic protein resources.
The COA further pointed out that the Taiwan-Philippines Agreement Concerning the Facilitation of Cooperation on Law Enforcement in Fisheries Matters not only solidifies the diplomatic relationship between Taiwan and the Philippines but also lays the foundation for further bilateral fishery cooperation. In the future, the two countries will continue to promote more fishery cooperation such as the aquatic feed investment.