Taipei, July 24 (CNA) The Latin American and Caribbean Trade Office (LACTO) officially opened in Taipei on Friday, expanding the reach of its predecessor to six of Taiwan's diplomatic allies in the region.
Previously known as the Central America Trade Office (CATO), the organization mainly served Belize and Guatemala. Its renamed and expanded form now also covers Paraguay, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines.
Foreign Minister Lin Chia-lung (林佳龍) described the change at the opening ceremony as "a new chapter" in Taiwan's economic and trade cooperation with its diplomatic allies in Latin America and the Caribbean.
Established in 1997, CATO promoted trade, investment and tourism through exhibitions, trade missions, business matchmaking and promotional activities, according to Lin.
The expanded office will pool resources from the six participating countries to strengthen their commercial ties with Taiwan, he added.
"This is much more than a name change," LACTO Executive Director Augusto Chou-Fu Chan (詹朝富) said, describing the move as reflecting a broader mission and an expanded regional network.
Under that mission, LACTO will help businesses explore markets, promote trade and investment, deepen industrial cooperation, and encourage cultural and tourism exchanges.
A statement issued by the office said it plans to organize events highlighting the six countries' agricultural and fishery products, food, tourism sectors and investment environments.
Its work will also include international exhibitions, procurement talks, business matchmaking and reciprocal visits, the statement said.
For smaller economies, the expanded platform can improve business visibility and reduce barriers to entering Taiwan's market, Saint Kitts and Nevis Ambassador Donya Lynex Francis said on behalf of the four new participating countries.
Francis also described LACTO as a clearer pathway for Taiwanese companies seeking commercial and investment opportunities in Latin America and the Caribbean.
Reflecting on Guatemala's experience as a founding participant, Ambassador Luis Raúl Estévez López credited the former CATO with helping promote Guatemalan products through trade fairs, tastings and other activities.
LACTO will also work alongside the Diplomatic Allies Prosperity Trade Office at the same location, allowing the two offices to coordinate, share resources and facilitate public-private cooperation, Lin said.
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