Taipei  - Taiwan held its first sourcing fair Tuesday to promote Taiwan export, attracting more than 700 foreign buyers.

Vice President Vincent Siew opened the 2009 Sourcing Taiwan fair, held at the Taipei World Trade Centre from Tuesday through Saturday.

He said Taiwan is opposed to trade protectionism and supports trade liberalization.

"By holding this purchasing partners' fair, we want to show the world our confidence in the recovery of world economy," Siew said.

The fair aims to match foreign buyers with Taiwan suppliers to boost exports, the backbone of the island's economy.

The expo has attracted 735 foreign buyers from 63 countries and regions. It is expected to generate 3.5 billion US dollars' worth of purchase deals, organizers said.

Ten leading buyers from Europe, the US, India, China and Mexico have already signed preliminary agreements to expand purchases from Taiwan, Economics Minister Yin Chi-ming said.

According to the Taiwan External Trade Development Council, China brought a delegation of 77 buyers, followed by Japan with 46 and the United States with 35.

Nearly half of the buyers came from emerging nations including India and Brazil, as Taiwan targets the potential of new markets. (dpa)