Resources

The United States is Taiwan’s second-largest trade partner with a long-standing, strong relationship. Taiwan has a population of 23.4 million and a strong economy. This report addresses opportunities for Virginia businesses in the following sectors: cybersecurity, medical devices and pharmaceuticals, automation and robotics, and unmanned aerial vehicles (UAV) for civilian applications.

There is steady growth in Taiwan’s defense industry as it works to expand its ability to respond to threats. Military equipment sales from U.S. businesses to Taiwanese entities can fall under either Foreign Military Sales or Direct Commercial Sales. This report addresses opportunities for Virginia defense companies in Taiwan and the challenges they may face when entering the market.

India is one of the fastest growing economies in Asia, and this economic growth has translated to increased defense spending. The Indian government has embarked on a military modernization program and is expected to maintain an average defense expenditure of 2.22% of GDP.

Southeast Asia is a leading center of growth for the global economy. The region has a large, diverse talent pool, and rapid economic expansion indicates the market’s significant long-term growth potential. Southeast Asian countries have invested in upgrading their manufacturing production processes with modern technologies, signifying a capacity that can support a wide range of goods and an increasing number of sectors. With access to some of the world’s largest shipping lanes, the region is also strategically located to combat China’s rising economic power.

Mexico has emerged as one of the foremost exporting markets in the world. The country has a large and diversified labor pool that continues to grow and become more highly skilled, while labor costs simultaneously remain low. Mexico’s proximity to the U.S. can significantly shorten supply chains; combined with the robust infrastructure found in North America, it is a competitive alternative to China. Its horizontal capabilities support a wide variety of sectors, and the country specializes in manufacturing for several industries.

India has one of the world’s fastest-growing economies, simultaneously experiencing rapid expansion in recent decades and significantly dropping poverty rates. India’s population recently exceeded that of China to become the largest in the world and the working-age population is projected to expand by almost 100 million in the period to 2030.