Economy

More petrochemical co-op urged between mainland, Taiwan

(Xinhua)
Updated: 2010-11-30 09:33

TAIPEI - Experts and industry insiders have called for more cooperation in the petrochemical industry between the Chinese mainland and Taiwan.

Both sides of the Taiwan Straits can develop all-round cooperation in the petrochemical industry, including by expanding joint exploration efforts for oil and gas, Sheng Huaren, honorary president of the China Petroleum and Chemical Industry Federation (CPCIF), said at a biennial cross-Straits meeting on the petrochemical industry in Taipei Monday.

Hundreds of representatives from the petrochemical sectors of both sides of the Straits attended the meeting.

The two sides should enhance cooperation in petrochemical-products trade to optimize production, marketing and logistics networks, Sheng said.

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Moreover, both sides' petrochemical sectors should work together in technology development, energy saving, environmental protection and product upgrading, Sheng added.

Development of Taiwan's petrochemical industry has been impeded by a shortage in resources and land, said Chen Wu-hsiung, chairman of the Petrochemical Industry Association of Taiwan, adding that expanded cooperation by both sides of the Straits will boost the industry.

The mainland is Taiwan's largest petrochemical-product export market.

In 2009, Taiwan exported about nine million tons of petrochemical products to the mainland, about 40 percent of the island's total petrochemical exports.

Taiwan is the mainland's largest source of synthetic fibre, which is used to make textiles.

It is the mainland's second largest source of synthetic resin, which is used to make plastics.