CETRA plans special website zone to cash in on Iraq war

Taipei, Feb. 7, 2003 (CENS)--The China External Trade Development Council (CETRA) plans to set up a special zone on its business-to-business e-marketplace website, Taiwan Trade, to help local companies tap business opportunities that could emerge if war breaks out between the U.S. and Iraq.

CETRA secretary general Y.C. Chao yesterday convened an emergency meeting joined by officials of the council's Market Development Dept. and Internet Center to discuss the plan.

Chao said war between the U.S. and Iraq could create many business opportunities and that the special website zone would help manufacturers in Taiwan tap these opportunities.

Domestic manufacturers and exporters of textile, automobile parts, machinery and plastics industries are postponing shipments in view of the seemingly imminent outbreak of hostilities between the U.S. and Iraq. They believe any war would be quickly resolved and will create business opportunities from the reconstruction of the Middle East area.

Domestic yarn manufacturers have increased output of materials to meet production requirement for one or two months in anticipation of war. Fabric manufacturers have also prepared sufficient materials for production in the first half of this year.

Some say war will benefit domestic industries despite its impact on the development of the world economy. For instance, the terrorist attack on the U.S. in 2001 benefited domestic manufacturers of outdoor equipment, sporting goods, and personal protection equipment.

Soon after the occurrence of the terrorist attack, CETRA created a special zone on the 'Taiwan Trade" website to enhance exports of Taiwan-made products, which attracted tens of thousands buyers of Taiwan-made anti-poison masks, helmets, plastic injection molding machines, and mold-making machines.

"War between the U.S. and Iraq could be a real business bonanza judging from the experience of the terrorist attack on the U.S.," noted George Wood, president of TBS Group Corp. "After the terrorist attacks, a lot of U.S. citizens postponed or called off overseas travel and spent more time at home, which has resulted in strong sales of barbecue equipment and outdoor sports equipment."

Technik Associates, Inc. recently postponed shipment of woodworking machinery to the Middle East. "We have notified our customers in the Middle East that we will postpone the shipment of our products to the Middle East until the situation there is stabilized," said Technik president Wiston Chiu.