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Catherine CHANTHABOUN
Head of International Desk Asia Pacific
Catherine CHANTHABOUN
Head of International Desk Asia Pacific
Last updated: December 2022
The International Asia-Pacific Desk of the Crédit Agricole Group provides support to the Crédit Agricole Group’s business clients in Taiwan to help them implement their operations on location, particularly opening accounts, and providing financing, information and banking advice. It relies on Crédit Agricole CIB and local frontline partner banks.
By opening a representative office in Taiwan in 1970, Crédit Agricole CIB became the first French bank and one of the first foreign institutions over all to set itself up in this market. Since receiving a banking licence in 1984 Crédit Agricole CIB has built up a solid presence in the Taiwanese market and has cemented its position there as one of the main foreign banks, with a clientele largely composed of large local businesses, multinational companies, banks and financial institutions.
For non-banking matters, the International Desk offers the support of local law and accounting offices and its partners as well as expertise in business internationalisation.
For more information, see the list of the Crédit Agricole Group’s locations.
General Information
Domestic consumption in Taiwan is strong with a low rate of unemployment.
In sectors such as the agrifood sector, a Taiwanese partner can also offer opportunities to open many doors on the Chinese continent and in the Shanghai region in particular. The partner can also bring a not inconsiderable contribution to the transaction’s financing.
Means of Payment & Banking Specificities
The USD remains the most important currency in trade transactions, followed by the JPY and the EUR. The rate of transnational payments in RMB offshore is growing rapidly. Advances or guarantees in foreign currencies can only be granted to resident clients. Apart from documentary credit, other payment methods are to be used with caution due to the difficulty of having legal decisions implemented in relation to recovery. It is recommended to choose the path of mediation in the case of a conflict with a Taiwanese company.
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