Home / Knowledge / News / Textiles / 'China & Taiwan petrochem firms keen on cooperation'
'China & Taiwan petrochem firms keen on cooperation'
07
Nov '13
Representatives from the Taiwanese and Chinese petrochemical enterprises are keen on collaborating and working together, said Zhang Guobao, former head of China's National Energy Administration, at the recently concluded Zijinshan Summit for Entrepreneurs 2013 in the Chinese city of Nanjing.
 
Mr. Guobao said for Taiwan, which is hard-pressed to meet its own energy needs, cooperation with China can result into huge benefits.
 
The two countries have refrained from working together in the petrochemical sectors because of political factors, and there is a huge potential for development if the petrochemical firms from both the countries collaborated together, he added.
 
Shih Yen-hsiang, former Taiwanese Economic Minister, said the country attaches great importance to energy resources and cooperation in the petrochemical sector would be a possible issue of economic security. 
 
However, Mr. Yen-hsiang suggested that a mutual agreement could be achieved for setting up of a joint refining and naphtha cracking plant, as well as for manufacturing of equipments for the same.
 
The two-day summit saw participation from over 300 entrepreneurs from both the countries, including Taiwan's former Vice President Vincent Siew and Yu Zhengsheng, chairman of the Chinese People's Political Consultative Conference.
 
A total of 24 exchange and cooperation memorandums as well as projects were signed by businessmen from China and Taiwan at this year's summit, and a proposal was issued calling for joint efforts for closer cooperation. The proposal appealed for both sides to integrate resources, expand cooperative industries and create common markets in order to boost mutual prosperity.
 
Out of the seven sectors focused during the summit, the entrepreneurs from both sides considered petrochemical sector as the one where both the countries could cooperate for future development.
 
The business summit, first held in 2008, is organized with the intention of providing a platform for cross-strait entrepreneurs from both the countries to seek opportunities for common development. Next year’s summit is scheduled to be held in the capital city of Taipei in Taiwan.
 

Fibre2fashion News Desk - India

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search