Taiwan strengthens trade ties with Nigeria at 2024 business forum

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To enhance bilateral trade ties between Taiwan and Nigeria and explore new business opportunities between both countries, the Taiwan External Trade Development Council (TAITRA) organised the 2024 edition of the Taiwan Trade Business Forum at the Radisson Blu Anchorage Hotel in Lagos, Nigeria during the week.

Through this strategic collaboration, Nigeria can leverage the advancements to propel its economic growth and solidify its position as a leading African economy.

The forum attracted a prominent audience, including Taiwanese Ambassador to Nigeria, His Excellency Andy Yih-Ping Liu who is the representative from Taiwan Trade Centre Lagos and also the overseas branch of TAITRA; Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Olusola Obadimu; Trade Ambassador, International Trade Facilitation Association (ITFA).Collins Nwosu; Taiwanese international brands representatives and other Nigerian business experts.

The forum showcased Taiwan’s excellence in technology and products and demonstrated the strength and competitiveness of Taiwan’s manufacturing industry.

The gathering facilitated a platform for about nine different Taiwanese company owners and representatives who visited Nigeria to showcase their brands and expertise.

Informative presentations and discussions sparked valuable dialogue, while productive networking sessions fostered potential partnerships and collaborations.

According to the World Trade Organisation in 2022, Taiwan is a powerhouse in the global manufacturing sector, recognised as the world’s 17th largest exporter and importer of merchandise.

This leading position is attributed to a strong focus on innovation and technological advancement, particularly in the fields of information and communication technology (ICT).

The 2024 Taiwan Business Forum in Lagos exemplifies Taiwan’s dedication to expanding its global reach and ensuring continued visibility for its top-tier exporters.

In his opening remarks, a representative from TAITRA, Cris Lin, spoke on the importance of building closer trade ties between Taiwan and Nigeria. He said: “The main point of promoting trade between Nigeria and Taiwan is to bring awareness of Taiwanese products to Nigerian consumers. Our products are known for striking a perfect balance between a reasonable price and excellent quality, which Nigerian consumers prefer,” he said.

Speaking, His Excellency Andy Yih-Ping Liu, the Taiwanese Ambassador to Nigeria, emphasised the significance of bilateral relations noting that Taiwan’s population is roughly the size of Lagos State, “but we lack the natural resources abundant in Nigeria. Conversely, Nigeria’s strength lies in its resources, while Taiwan’s advantage lies in its human capital. We believe a symbiotic relationship, combining our strengths, can lead to a powerful trade partnership.” he said.

Yih-Ping Liu who lamented counterfeit products which according to him is a major challenge from China and some other countries that duplicate Taiwan products and produced substandard quality, noted that the nine leading Taiwanese companies that came to Nigeria and participated in the exhibition section of the forum, are renowned for their high-quality products, cutting-edge technologies, and established reputations in the Taiwanese and international markets. The brands include Well Electronics Co. Ltd, Lien Chiny Enterprise Co. Ltd, Easywell Water Systems Inc., Mobiletron Electronics Co. Ltd, Ou-Dean Foods Factory Co. Ltd, Yu Tong Steel Co. Ltd, Shuz Tung Machinery Industrial Co. Ltd, Globe Industries Corporation, and Voltronic Power Technology Corp.

Speaking on the benefits of the business relationship with Taiwanese companies, Director-General of NACCIMA, Olusola Obadimu said, “The advanced technology and high-quality products offered by Taiwanese companies have the potential to significantly support Nigeria’s industrial and manufacturing development significantly. I urge Nigerians to see that working with Taiwanese companies will benefit us immensely especially because of the certainty in the quality of their brands.”



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