Premier trade fair Metaltech 2014, which focuses on machine tools, is being held at the Putra World Trade Centre until tomorrow.

A total of 567 exhibitors from 44 countries are participating in the event, out of which 43 are from Taiwan.

Leading the exhibitors from Taiwan are Taiwan Machine Tool & Accessory Builders’ Association (TMBA) and the Chinese Fluid Power Association.

The trade fair is showcasing 254 international brands.

Taipei Economic and Cultural office in Malaysia economic division head Chang Ming said the machine tool industry was an important pillar of Taiwan’s economy and the best representative of the “Made in Taiwan” concept.

“The industry is worth some USD5.43bil a year and 80% of the output is bound for export, cementing Taiwan’s position as the fourth largest exporter of machine tools in the world,” he said during a press conference in a hotel in Kuala Lumpur recently.

He added that Malaysia imported about USD80mil worth of lathes and turning machines in 2013, of which 37.5% (USD30mil) are imported from Taiwan.

Malaysia had imported about USD100mil worth of machining centres (milling and drilling machines) last year and 20% (USD20mil) are from Taiwan.

Trade figures also indicated that Taiwan is the third-largest source for machine tools imported into Malaysia and the trade volume is expected to increase even more this year.

Taiwan Trade Centre in Kuala Lumpur director Jessie Tseng said that Taiwan was home to many cutting-edge technologies and products which had helped established the island as a leader in this field.

“As a major supplier of machine tools in the global market, Taiwan has built a strong reputation for high-quality products which has helped secure its position as an important component in the global supply chain.

“Taiwan’s machine tool industry has made successful inroads into the global arena and encompasses major areas including solar energy, semiconductor, panelling, and automotive production.

“The continued growth of the Taiwanese industry will be able to meet the growing needs from the Asian market, especially from Malaysia,” she said.

Admission is free and the trade fair will be open from 10am to 8pm daily until Saturday.