Taiwan's Hand Tools Seeking Opportunities Amid Global Crisis

Due to the COVID-19 pandemic sweeping the globe, most of the international hardware shows slated for this year has been moved to 2021. However, as Taiwan's efforts combating the new virus has proven to be successful, the 2020 Taiwan Hardware Show (THS) will continue as scheduled, beginning on Oct. 13 and ending on the 15th at the Taichung International Exhibition Center, thus becoming the only show to go on this year.

In the face of the myriad challenges that the virus has posed, the THS hosting organization plans to incorporate efforts to promote Taiwan's manufacturing prowess as means to pave the way for restarting the economy. The THS hopes to cement its role as the world's sole hardware show and leverage companies in these challenging times.

Taiwan Hand Tool Manufacturers' Association (THTMA) Chairman Huang Hsin-te believes that Taiwan's hand tool industry should seek business opportunities in a period of crisis, and take advantage of circumstances to bolster sales. Once the pandemic has passed, businesses should not only embrace the economic resurgence in hand tool products, but also, more importantly, the crisis between China and the U.S. has continued to mold and redefine the world's global production chain. Huang pointed out that with orders originally directed to China have been transferred to other areas, as well as the Anti-China-Production sentiment, and diversifying production risks, this year and onward will continue to see international companies taking in consideration of these factors when making strategic decisions. The chairman stressed that companies should definitely take advantage and get a foot in during these turbulent and changing times. THTMA Export Promotion Department head Hsiao Fang-wei said each economic crisis is the beginnings of an opportunity for industry growth. Under the current global climate, the active trade show participation from Taiwan's companies is the best chance to cement a reputation of stability and integrity among buyers.

With the global pandemic winding down, more and more countries are lessening restrictions on its borders and reopening its economies. The global economy is expected to get back on track in the latter half of 2020. As Taiwan's economy remained relatively undisturbed in the past months, companies here are capable of quickly taking in orders to meet resurging global demand. This October marks the opening of a number of trade shows in Taiwan – Taiwan's three metal industry trade shows, Taipei AMPA and AutoTronics Taipei, THS and Taiwan International Fastener Show. This presents a unique perspective of trade shows flourishing on the island despite global circumstances: “automotive in Northern Taiwan, hardware in Central Taiwan and fasteners in Southern Taiwan,” and showcasing Taiwan's industrial prowess in metals.