Nine companies sign lucrative deals to strengthen economic ties between Nigeria and Taiwan

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

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

The nine Taiwanese companies that signed the agreements are known for their high-quality products and advanced technologies. This includes 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.

According to Cris Lin, a representative of TAITRA, “The main purpose of promoting trade between Nigeria and Taiwan is to increase the awareness of Taiwanese products among Nigerian consumers. Our products are known for striking a perfect balance between reasonable price and excellent quality, which is preferred by Nigerian consumers.”

Highlighting the importance of bilateral relations, His Excellency Andy Yih-Ping Liu, Taiwan’s Ambassador to Nigeria, stated: “Taiwan’s population is about the size of Lagos State, but we lack the natural resources that are abundant in Nigeria present. Conversely, Nigeria’s strength lies in its resources, while Taiwan’s advantage lies in its human capital. We believe that a symbiotic relationship, joining forces, can lead to a powerful trading partnership.”

The agreements signed by the nine Taiwanese companies are expected to support Nigeria’s industrial and manufacturing development, boost economic growth and consolidate 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, saying: “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 are sure of the qualities you 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.