A trade promotion delegation left Taiwan yesterday on a visit to three African countries to step up the promotion of Taiwanese products, Ministry of Economic Affairs (MOEA) officials said yesterday.
The MOEA's Board of Foreign Trade said that 18 domestic manufacturers are represented in the delegation that hopes to tap business opportunities in the newly emerging economies of Kenya, Ghana and Nigeria.
The officials noted that Kenya is Taiwan's largest market in East Africa. Bilateral trade amounted to US$31 million last year, they went on, showing that there is still ample room for growth.
Ghana is Taiwan's third-largest trade partner in West Africa, they said, adding that its basic industry is still in the burgeoning stage and it has to rely on imports for a great majority of daily necessities and industrial products. Taiwan's exports to Ghana totaled US$10 million last year, and the trend is toward a continued increase.
Nigeria is Taiwan's largest trade partner in West Africa. It is rich in oil and is a vast emerging market of great potential. Bilateral trade between Taiwan and Nigeria totaled US$390 million last year, of which exports to Nigeria from Taiwan accounted for US$150 million.
Taiwan's exports to Nigeria in the first nine months of this year amounted to US$139.56 million, up 20.3 percent year-on-year.