Four out of 18 Taiwanese machine tool manufacturers attending a five-day trade show in Beijing that opened Wednesday are showcasing new products to expand their market presence there, according to the Taiwan External Trade Development Council (TAITRA).

During the 12th China International Machine Tool and Tools Exhibition — a biennial event that has attracted 1,300 exhibitors from over 30 countries — Taiwan-based TBI Motion Technology, Litz Hitech, Hiwin Technologies and Tongtai Machine and Tool have introduced new products, according to TAITRA.

The companies are hoping to take this opportunity to further penetrate the market, as the country is among China's three largest sources of machine tool imports, TAITRA said.

Hsu Hsiu-tsang, chairman of the Taiwan Association of Machinery Industry, also said that the two sides of the Taiwan Strait could speed up trade liberalization.

Only 116 items in the machine tool sector are currently included in the early-harvest list of the cross-Taiwan Strait Economic Cooperation Framework Agreement (ECFA) signed nearly four years ago, while over 700 others have been left off, Hsu said.

The machinery sector is the foundation of Taiwanese industry, according to Hsu, who added that follow-up negotiations under ECFA should be carried out to stimulate the sector.