The Ministry of Economic Affairs (MOEA) organized a trade mission to help Taiwanese suppliers in the smart industry explore business opportunities in Southeast Asia. It was Taiwan's first trade mission to go overseas since border restrictions were lifted. Director General Ms. Cynthia Kiang of the Bureau of Foreign Trade (BOFT) led the trade mission on its first stop in Malaysia on November 29 for trade meetings and to help delegates of Taiwan's smart industry find opportunities to expand into New Southbound markets.

The smart Industry trade mission focused on cold chain logistics and smart transportation in Malaysia, Thailand, and Vietnam, with the aim of looking for export opportunities in the post-pandemic period. The trade mission attracted 52 Malaysian buyers who engaged in more than 180 trade meetings. These talks were expected to generate business opportunities worth US$15 million.

The Malaysian government established its National Policy on Industry 4.0 and Shared Prosperity Vision 2030 to realize digital transformation and the digitalization of infrastructure. With regard to cold chains, the Malaysian government has a blueprint for simplifying logistics and trade to further support the development of cold chain related industries from food processing to supply chains, and to encourage more suppliers to invest in those industries. Since Taiwan has advantages in the ICT industry, now is the right time to seize opportunities in the smart industry market.