COMPANIES in Taiwan are looking to invest in, acquire and form joint ventures with science and technology businesses in York and North Yorkshire.

The statement was made by Taiwanese representative Chih Kung Liu during a visit to the region by Taiwanese diplomats organised to boost trade links with the Far East.

With Taiwan already paying five billion US dollars in royalties every year, Mr Liu said York and North Yorkshire had the potential to be receiving its own share.

He said: “During our trip and after discussions we have found several interesting areas.

“One of these is science and technology co-operation. Taiwan is very much export orientated, and the majority of our products are high-tech.

“Our companies are eager to acquire businesses to add value to their products. We are looking for small start-ups that have wonderful technology, and partners overseas for joint ventures.

“York has many SMEs and technology businesses but because of geographical limits or cultural barriers it is difficult to deal in export and to establish a presence in Asia.

“Taiwan is connected and is a gateway to Asia. Because of our links with China our network has acquired substantial experience in trade and investment in China, so teaming up with Taiwan will mitigate risk for businesses in York wanting to work in China.

“Everyone is talking about the Chinese market, yet the Taiwanese market has been overlooked for some time, and we hope to change that.”

The visit was organised by former Selby MP and current candidate Nigel Adams following the wedding of Taiwanese pop star Jay Chou at Selby Abbey earlier this year.

Mr Liu said: “The wedding was very widely reported in Taiwan, and across Asia, and already several other people have booked weddings in Selby.

“We would like to encourage the development of tourism to Selby. The market is not just limited to Taiwan, the tourism offering of Selby and York has great potential.”

Mr Liu also identified potential links with York’s universities, discussing the possibility for joint degrees and student exchange programmes.

Alongside Mr Liu the Taiwanese diplomatic group included Ms Mathilda Lee, assistant director for Political Affairs; Mr Terry Lee, director for economic affairs; Mr Jyh-Haw Hsieh, assistant director for economic affairs and Mr Jeremy M C Horng, director of the Taiwan Trade Centre.

During their trip they visited local companies GBUK, which produces and supplies medial equipment from North Duffield, and Yorkshire Heart brewery and vineyard at Nun Monkton, as well as visiting the Biorenewables Development Centre in York and meeting with Taiwanese students studying at the University of York.

The delegates were also hosted at a civic lunch with Selby District Council, and a dinner with City of York Council and the Lord Mayor, both featuring representatives from local businesses.