Since the 1980s the island’s authorities have been at the forefront of boosting product quality and awareness of the island’s products around the world.
The Ministry of Economic Affairs launched a series of initiatives to enhance the competitiveness of manufacturers, including the Taiwan Excellence Awards, first held in 1992. The goal of the awards was to encourage manufacturers to build “innovalue” (innovation and value) into their products.
Over 20 years later, the awards are still held annually and the winners are chosen by expert judges based on four different criteria: research and development (R&D), design, quality and marketing.
Award winners not only represent the most revolutionary, high quality and value-added products, they also epitomise unique and innovative style in the design and manufacture of leading-edge products.
While winning an award is highly desirable, entry into the awards alone is immensely beneficial for these companies. They receive valuable feedback on their product quality and design from both local and foreign experts and excellent press coverage.
The eventual winners go on to act as the island’s representatives on the international stage. For example, a Taiwan Excellence Showcase was exhibited in Rio de Janeiro, Brazil, in June 2013 to demonstrate top technology and innovative products that will soon be launched and available in Brazil. Last generation ultrabooks and tablets, gaming accessories, folding bikes, photocatalyst mosquito traps and other ecofriendly products were presented during this unique event where island representatives and Rio de Janeiro officials were introduced to each other for the first time.
Similar events have been conducted in the United Kingdom and India, with the aim of fostering inter-country relationships and promoting brands that are recognised by the Taiwan Excellence Awards.
Taiwan Excellence Award winners epitomise unique and innovative style in the design and manufacture of leading-edge products.
The Taiwan Excellence Pavilion was the island’s first venue dedicated to recognising the research efforts, aesthetic designs, premium quality and international marketing plans behind Taiwan Excellence Awards winners
Taiwan excellence pavilion
Unveiled on 26 December 2011, the Taiwan Excellence Pavilion was the island’s first venue dedicated to recognising the research efforts, aesthetic designs, premium quality and international marketing plans behind Taiwan Excellence Awards winners.
Located at the Taipei Fine Arts Museum, the pavilion structure, made entirely of glass panels, was constructed during the Taipei International Flora Expo 2010. It offers interactive exhibits to impress visitors from all over the world with the beauty of various island technologies as well as sophisticated and innovative products.
Case study: First Commercial Bank
First Commercial Bank, founded in 1899, is one of the largest of the island’s commercial banks. For decades First Commercial Bank has carried out business in line with economic development and earned both long-term trust from its customers and an entrenched market position across its major lines of business.
Trade finance has always been the primary source of business for First Commercial Bank. In 2012 its imports and exports amounted to US$6.9 billion and US$6.6 billion respectively, reaching a market share of 10 per cent and 9 per cent respectively. These results are supported by an extensive domestic branch network and a wide coverage of overseas branches.
To consistently support the cross-border business of its clients, First Commercial Bank joined the TFP as a confirming bank in 2002. To facilitate its clients’ exports of tape production line and reeling machines to Moldova, First Commercial Bank confirmed two letters of credit issued by Moldindconbank, Moldova, in the same year.
With full international capabilities and a solid client relationship built over a century, First Commercial Bank will continue to develop an enduring relationship with the TFP’s partner banks to the benefit of customers on both sides.