Welcome to another episode of Spark Your Vision where we invite business leaders from various industries to share with us their experience and insights on trending topics currently shaping the business world. Before we begin, let me introduce the team. My name is Chien and I will be the host for today and along with two talented co-hosts, Alice and Nick, please say hi to everyone.
Hi everyone. I'm Alice.
Without further ado, let me introduce our guest today, Effie Huang, manager of TAITRA. TAITRA, which stands for Taiwan External Trade Development Council is a nonprofit government-co-sponsored trade promotion organization in Taiwan is responsible for many of the key industry events here in Taiwan as well, including the upcoming industry-leading TIMTOS machinery trade show in March. Effie, thanks for coming on the show today. Please introduce yourself and also introduce TAITRA.
Hello, everyone. My name is Effie. I'm the manager of exhibition departments in TAITRA. I'm mainly in charge of holding machinery show and TAITRA is a semi-government organization aiming to promote Taiwan's external trade. So it's prominent. We hold more than 30 international trade shows a year.
Wow. So essentially, all the major events you guys are responsible for, you know, especially here in Taiwan.
Yes, such as TIMTOS, just like we mentioned, like Computex, Taipei Cycle
So many renowned international shows are held by TAITRA.
So in, you know, in 2019, TIMTOS has officially become the largest in Asia and also the third biggest around the world.
I think we are the second biggest exhibit machine tool trade show in Asia, I think is the second biggest.
But it's still very large.
Okay. And of course, we're always working towards the number one
Yeah, yeah, yeah. We are working on that. Yes.
But anyway, that's, you know, congratulations. I mean, it's good to you know, sort of be in the top three always good, right? And then at least you're giving yourself some room to maybe work for that. the top position you know, usually along with these recognitions, it also comes with big responsibilities, right? Because everyone's expecting a lot. How do you since you are here in Taiwan, you're you know, a lot of the exhibitors will be in, how are you planning to help you know, the Taiwan machinery companies to go global and through the TIMTOS platform, how to hopefully get them be successful on the global stage.
First of all, allow me to introduce TIMTOS.
TIMTOS also known as Taipei International Machine Tool Show will be held from March 6 to 11, in Taipei this year. The event features over 1000 exhibitors and nearly 6200 booths making it the premier event for the global manufacturing industry.
Wow. That's big. That's big.
And TIMTOS is not only, just like Chien says not only a global platform for the metalworking industry, but it also provides Taiwan's machinery companies with an opportunity to expand their business globally. This year's TIMTOS has a special significance for our exhibitors, just like you say. In 2019 we reach a milestone. But in 2021, the pandemic forced us to transform into an online event and a hybrid event in early 2022. Now with Taiwan's folders open since October of last year, we finally have the opportunity to meet with overseas visitors in person. So reflecting leaves, we've chosen a theme that keeps rolling in metalworking, which emphasizes the show's, the show's resilience, and a desire to connect with the global mental working community together again, in a post-pandemic era.
Yeah, you mentioned the pandemic. Yeah, that that is usually one of our key topics on our channel. Industry trade shows, you know, for sure these past three years have been hit pretty hard. Was there anything that you learned? And then furthermore, how do you you know, from what you learn, how do you plan to hopefully, you know, with this year, you know, take it and maybe, you know, improve on the overall experience, not only for this year but for many more years to come?
Yes, the pandemic has greatly affected the trade show industry, leading to many events being canceled or postponed. In response, many trade show organizers have started to shift towards virtual or hybrid events. As business travel has not fully resumed. TIMTOS online exhibition and digital components are here to stay giving those who visit the opportunity to catch up online. There is also a heightened emphasis on health and safety measures including mask-wearing, increased cleaning, as well as renewed attention on sustainability in the industry. I think we change is likely to have a lasting effect on the trade show industry.
Yeah, no, I think. And to be honest, I think it's for the good too, right? I mean, obviously, I mean, we went through these past three years, but I think, you know, we learned a lot from it. And then furthermore, we are being more creative now, you know, in terms of, you know, what can we provide to the exhibitors as well as the audience? And like you said, I mean, 2023 is a special year, at least, you know, here in Taiwan, the quarantine policy has been relaxed a little bit, you know, so there's none of that quarantine policy as it, you know, had before. And then furthermore, I mean, it's some nervous time as well, right, because we haven't had a full, you know, sort of an open show for the past three years. So what are you doing to hopefully make sure that things go according to plan? And then secondly, I think you mentioned earlier about safety, right? I think, of course, this year, we will be welcoming a lot of international attendees as well, right? So how can you come to them and say, hey, you know, we have the necessary health measures in place not only for the international attendees but also for our local exhibitors?
We have learned from the past three years and are fully prepared. Despite recent relaxations in regulations, we are still being cautious. However, from my observation, the main concerns of our visitors currently are the high cost and the uncertainty about trip. So Trinidad again, they are confident, we have over 60 overseas offices available to provide firsthand assistance and service for consultation.
So I think not only are they working with you guys directly, but you have all these other, you know, other offices to support the process. Can you give us some, you know, some industry perspective? I mean, I know machinery is a big industry here in Taiwan. It's actually one of the key main industries in Taiwan, right? From industry perspective. I mean, what are what's the economic outlook like, for this new year? I mean, yeah, I know, a lot of people are, you know, yeah, they can't wait, you know, for the borders to open up. But however, at the same time, there are some uncertainties, right? So what do you see, you know, the trend going forward? And maybe also, what are some of the things that hopefully, you know, as a machinery company they should be aware of? So hopefully they could be on the positive side on this, you know, during this rebound?
Yeah, despite challenges from weakening demand in the latter half of 2022. Let me give everybody a number. Okay. Last year Taiwan's exports, so gross, rising by more than 7% compared to the previous year, and the machinery industry in particular, so an increase of 5% with the machine tool sector experiencing even greater growth at over 8%. Although many experts predict a global recession this year, but companies are expected to continue investing in digital and automation tools to stay competitive. The market demand for machine tools, particularly in EV, green energy, and healthcare applications is expected to drive growth in industry. To ensure a healthy rebound, the industry should focus on increasing competitiveness through innovation, expanding export markets, and building partnerships with key players in related industries. Additionally, meeting a growing demand for automation and digitalization is a crucial for staying competitive in the global markets. So at this year's TIMTOS, we've added three dynamic new theme areas to reflect the latest trends in metalworking, manufacturing. These areas are advanced metalworking technology, additive manufacturing, and future manufacturing. So visitors will have the opportunity to see the latest manufacturing technology and industrial applications.
With the expected growth, I think so tempo is plays a critical role, right? I mean, this is the first event in 2023. Right?
Yeah. Yeah, very important.
And then so everyone is looking towards at the event and hopefully, you know, the economic outlook, as we discussed, hopefully, it will be as positive as we forecasted. Yeah. And you guys play a, you know, a very important role in helping to achieve that.
Yeah, we are very excited about the show.
Exactly, exactly. So as we all know, I mean, ESG is one of the main key topics nowadays in business. And usually, when we get into this section, we like to share some statistics and trends with our audience as well. Alice, please. Can you share some interesting insights?
Yeah, according to Bloomberg, they estimated that global ESG assets are about to hit 53 trillion by 2025.
Wow, that's a big number.
Yeah, accounting for 1/3 of the 140 trillion in total assets under management. So we are interested on your take about the ESG trend, do you think it is going to last or it's just another fad that will be replaced?
ESG, we know environmental, social, and governance, which are the three key areas that investors look at when accessing the sustainability and impact of a company or business. In manufacturing industry, I think that ESG considerations are becoming a major factor in supply chain management and product production processes. And ESG is a trend that's here to stay and it's going to be a big part of investing in the future, especially in the manufacturing industry.
And even though it is such a hot topic recently, many machinery companies are still figuring out what's their ESG strategy, but we are all always firm believers in learning through others. So take Germany for example, Germany's new supply chain is now making German companies facing fined up to 2% of their global turnover if they are not demonstrate ESG transparency in their supply chain. According to a survey made by Supply Chain Management Review, 69% of survey respondents consider sustainability performance when they renewing contracts or select new suppliers. So I want to ask, with that being said, how is your team planning to introduce ESG at upcoming TIMTOS events and any special events or activities scheduled so a buyer can look forward to it?
We know that recently machine tools have been evolving with expanded capacities and increased intelligence, the industry is pushing for automation to efficiently produce with fewer operators and developing technologies to make production sustainable and environmentally friendly. At TIMTOS, we are leading the charge with our TIMTOS ESG action campaign. We've got talks on greening the industry, expert advice on reaching net zero, a podcast series all about skills and careers, seminars on Sustainable Manufacturing, and even an ESG pop quiz with esteem experts from Ernst and Young, RCI Engineering Corporation, and Taiwan association of green energy transition, etc. While making sure ESG isn't just a buzzword, but a reality. So make sure to be part of the challenge and join us.
Wow. So I mean, you know, attending TIMTOS. I mean, there are a lot of benefits, right? You know, in addition to meeting your potential customers, in addition to you know, learning about what other people are doing, but they're also through the event itself, they can also learn a lot about ESG and how they can do their ESG planning for the future, right?
Hopefully, all of our machinery companies will be attending. But what's quite interesting, I think, you know, ESG like you mentioned right ESG current right now stands for environmental, social, and governance but understand that TIMTOS has their own set of ESGs maybe can you share with us what's TIMTOS' ESG and also what's the motivation behind having something like that to share with the audience?
Yes, we take it a step further by applying these values to the technical aspects of machinery. Are we think keeping rolling in metalworking has led us to question where are we moving to improve? Technically, the answer is clear, want to be more efficient, smarter, and greener. So this is reflected in our ESG in TIMTOS serious activities, such as the guided tour of the metalworking ecosystem, the future manufacturing foreign, the maker workshop, and the marine and offshore machinery seminar, we invite everyone to join us in making a positive impact on the manufacturing sector.
Okay, interesting. Interesting. I mean, of course, today we're talking about TIMTOS, and I'm pretty sure as you mentioned already. There are a lot of events going on. Yeah, but maybe share with our audience. I mean, some of the maybe a sneak peek of some highlights or maybe even some new technologies that we'll be looking at. And also maybe even some key companies that we'll be attending, you know, hopefully, you can share with us, you know, so they can look forward to, you know, seeing them at the event.
This year, visitors can expect to see a variety of innovative products and solutions in the fields of green machine tools, smart machinery, flexible manufacturing, and digital simulation. These products which focus on green energy savings, smart manufacturing, and data analysis, as well as whole plant and whole line solutions, will help customers move towards the goal of being smarter and greener. Additionally, there will be more digital twins and efficient solutions for small scale diverse, and fast-paced line changes. Thanks to Chien, manufacturers we, and SparkAmplify, Spark Your Vision Podcast, we will invite our special guests, including our exhibitors from this year's TIMTOS such as Victor Taichung, SOCO, Six Star, and Gifu will be joining us to share their innovation in the coming TIMTOS so tune in and be inspired by their stories.
Oh, yeah, no, definitely. I always say I mean, you know, trade show experience, it's all about, you know, it's really all about that experience, right? When you feel during those two, three, or three or four days, that is the real value to, to the trade show itself. So I always say I mean, no matter how digitally we transform, or how virtual, you know, of a world that we live in, I think that face-to-face, human-to-human engagement, I think it's too valuable.
Yeah, especially in the in this, in this time.
Exactly. Especially since we've been locked up since for three years already. What are some of the interesting experiences that you guys have in-store? And then, you know, hopefully, maybe from a sourcing perspective, I mean, because obviously, we're gonna have buyers coming from abroad, right? They're looking for opportunities to source the best products and technologies.
Yeah, exactly. And so what type of sourcing experience are you planning to sort of give them you know, this time around when they come to the event?
Yeah, at this year's TIMTOS we're excited to over a variety of services to make the sourcing experience like you say, for our overseas, visitors even better. For business matching, buyers can contact us to arrange meetings at pre-selected booths. We also offer guided tours, where buyers can learn from them, learn about the highlights of the, of the, of the products on display with an expert. In addition, we have a business lounge for buyers to take a break and enjoy snacks and beverages. One of our most popular services is the Taipei Biz Tour where visitors can experience the city's energy and try local delicacies as at night market.
These tours are free, but be sure to apply on-site at TWTC one during TIMTOS before they fill up. We also offer tour services for delegation groups. And don't miss out on the reception party where you can check out the Innovation Award winners and network with suppliers while enjoying the buffet while enjoying a buffet. To change not just your company but entire manufacturing industry. We are thrilled to welcome old and new friends to Taipei during a beautiful springtime March 6 to 11 This year, where in-person attendees will have the chance to grab limited and unique souvenirs and take advantage of our on-site visitor services. Don't miss out on these exciting events. See you again this year.
Awesome. Hey, so everyone listening makes sure to book your flights and make a flight you know, make a trip out here in Taipei. Check out TIMTOS. Enjoy the food also...
Enjoy Taipei City. Yes.
Exactly. That's awesome. Effie, thanks for coming on the show today.
Thank you. Thank you, Chien. Thank you.
So that's all for today. And you know, thanks for listening. And make sure to subscribe to the podcast channel for more trending insights from business leaders from around the world. Also, do leave your comments and feedback if you'd like to show and if you liked the show, make sure to give us a five-star rating and you can always follow whether it be you know, the LinkedIn or Facebook for the latest episodes as well as the newest video teasers. Thank you see you all again and hopefully see you in Taipei as well. Thank you.