1996 年香港亞洲藝術博覽會宣布不續辦，韓國漢城博覽會因故順延至 1997 年舉行，兩個博覽會組織宣布延期停辦後，讓本屆的台北國際藝術博覽會成為 1996 年唯一亞洲舉辦的國際性質的大型藝術博覽會，格外的受人矚目。台北國際藝術博覽召集人李亞俐女士、中華民國畫廊協會理事長劉煥獻先生擔任執行長，展覽訴求以「藝術四方」為主題，匯集四方藝術到台北，藉以達到國際化之目的，參展畫廊 51 家，橫跨 10 個國家。臺北市政府首次出力協辦，為官方與民間合作踏出第一步。
In 1996, the Hong Kong Asian Art Fair announced its discontinuation of operation, and the Seoul Art Expo in South Korea was postponed to 1997 due to unforeseen circumstances. After the two expositions announced their cancelation and postponement, the TAIPEI ART FAIR of that year became the only large-scale international art fair held in Asia in 1996, attracting extraordinary attention. Ms. Li Yali served as the convener of the TAIPEI ART FAIR, and Mr. Liu Huanxian, the chairman of TAGA, was the executive director. The fair aspired to attain international recognition by gathering art from across the globe under the theme of "Points on the Compass" and bringing it to Taipei. There were 51 participating galleries across 10 different countries. The Taipei City Government took its initial step in official and private cooperation by making its inaugural effort to co-organized the event.
