Taiwan, with its high-growth economy, is one of the rising stars of the Far East and it now wants to develop its commercial cooperation with Turkey. Despite limited diplomatic relations between these nations, commercial relations are generally on a steady course. The trade volume between the two countries exceeded $1 billion for the first time in 2004, reaching $2.2 billion last year.
Having stood at $118.9 million in 2013, Turkey's exports to Taiwan surged by 72 percent as of the previous year, reaching $204.5 million. Imports of all types were estimated to be around $1.6 billion in 2016, rising to $2 billion last year.
There are 21 Taiwan-based companies in Turkey. Commercial and economic relations between the two countries are maintained in the natural course without state support. In order to develop commercial, economic and cultural relations between Turkey and Taiwan, the "Taipei Cultural Office" is operating in Ankara along with the "Turkish Trade Office" in Taipei.
According to a study conducted by the Turkish Trade Office in Taiwan, the export potential stands out in cherries, apricots, grapes, figs, oranges, lemons, sunflowers, olive oil, hazelnuts, walnuts, and many more.
That is the reason why Taipei's Economic and Cultural Mission Representative Yasser Cheng has stated Taiwan wants Turkey to be more involved in the Taiwanese market.