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According to research undertaken by global management consulting firm McKinsey & Company, the circular economy is projected to create an annual economic benefit amounting to 1.8 trillion euros globally by 2030. Taiwan's circular economy is also part of the island's 'Five Plus Two Industry Innovation Plan', while the prowess of the industry players involved should not be underestimated. This year, the Plastics Industry Development Center organized a delegation to participate in the International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM), exhibiting items ranging from home accessories to household products, green building materials, medical materials and fabrics, to showcase the breadth and range of Taiwan's circular economy in all aspects.

IGEM is the largest circular economy exhibition in the ASEAN market. Since last year the event has been held online. At the Circular Economy Taiwan Pavilion, Taiwanese exhibitors and associated collaborative project teams, including Sou Pi, Jing Tay Cement, Somnics, Cimetrix International, MaiMai, Fonchang Enterprise, Jing Dong Landscape, Blue Ocean Vision, Eastem Plastic Enterprise and Junmay, exhibited a lineup of Taiwan's green and sustainable technologies and products, including a waterjet-based technology for recycling used and discarded tires, pomelo extraction-based products and technologies; recycled plastics-based containers, plastic flooring mixed with wood, shampoo bottles and jars, cultural and creative goods made of discarded stone dust, heat insulation tiles containing a suspension of ceramic particles, and portable respirators. The variety of exhibits and applications show the innovative capabilities of Taiwan's industry players.

Exhibitors at the Circular Economy Taiwan Pavilion also plan to exhibit the achievements of the Sustainable Materials Library (SML). The library, established in 2020, features seven categories of sustainable materials: plastics, fibers, rubber, metals, minerals, natural materials and others. The database will seize the opportunity of exposure at this international exhibition with an online material matching platform that will give manufacturers worldwide looking to develop high-quality, exquisite products access to a wide range of sustainable materials from Taiwan, with the end goal of enhancing the international reputation of Taiwan's circular economy.

The COVID-19 pandemic has led many to reimagine the relationship between human beings and the environment, moving a sustainable lifestyle one big step closer to becoming a universal value. As a result, innovation in the global manufacturing sector due to the rise of a circular economy is a trend that has taken on an aura on inevitability. The Circular Economy Taiwan Pavilion has given the island's industry players an opportunity to move beyond the limitations created by the pandemic, engage with international visitors and start conversations that can lead to new businesses and new projects driven by the international circular economy through a virtual exhibition that is not restricted by time and space.