Taiwan is a sophisticated market in which consumers are plugged into global trends. U.S. products are well represented in the market, as are products from across the region, especially mainland China and other lower-cost producers. Taiwan is a good target market for both high-quality, differentiated products and commodity items.
According to Taiwan Institute of Economic Research (TIER) reports, due to the COVID-19 outbreak, in 2021 private consumption remains low as social distancing measures and travel restrictions remained in place, affecting activities in the hospitality, retail, and services sectors.
Taiwan is a price-sensitive market, and foreign goods must conform to certain local standards and labeling regulations required to import products into this market. A local agent or distributor should be able to assist with obtaining the necessary certifications and permits required for importation.
Intellectual property rights holders report both positive developments and ongoing challenges in Taiwan’s protection and enforcement of intellectual property rights. In recent years, Taiwan has bolstered trade secrets protection and enforcement. On the other hand, considerable challenges remain in combatting copyright-related infringement both online and with printed educational materials.