In a significant boost to bilateral trade relations, Nigeria and Taiwan have strengthened their economic ties with the signing of lucrative agreements by nine leading Taiwanese companies. This milestone achievement was reached at the 2024 Taiwan Trade Business Forum, held in Lagos, Nigeria.

The forum, organized by the Taiwan External Trade Development Council (TAITRA), aimed to enhance trade ties and explore new business opportunities between the two nations. The event attracted a prominent audience, including His Excellency Andy Yih-Ping Liu, Taiwanese Ambassador to Nigeria, and representatives from the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA).

The nine Taiwanese companies that signed the agreements are renowned for their high-quality products and cutting-edge technologies. They 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.

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According to Cris Lin, a representative from TAITRA, “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.”

His Excellency Andy Yih-Ping Liu, the Taiwanese Ambassador to Nigeria, emphasised the significance of bilateral relations, stating, “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.”

The agreements signed by the nine Taiwanese companies are expected to support Nigeria’s industrial and manufacturing development, propelling economic growth and solidifying Nigeria’s position as a leading African economy. Olusola Obadimu, Director-General of NACCIMA, urged everyone to explore the benefits of working with Taiwanese companies, stating, “I have only good things to say about Taiwan, and I urge everyone here to see that working with Taiwanese companies will benefit us. We can’t lose, and you’re sure of the qualities you will get.”

The 2024 Taiwan Trade Business Forum marked a significant step forward in strengthening economic ties between Nigeria and Taiwan, paving the way for future collaborations and trade opportunities.


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