Mon, Nov 11, 2019 - Page 16 News List

Entrepreneurs gather for business forum in Taipei

Staff writer, with CNA

About 20 business leaders from African countries, including Eswatini — Taiwan’s sole diplomatic ally in Africa — South Africa and Nigeria, are to attend the Taiwan-Africa Business Forum in Taipei this week, the Ministry of Foreign Affairs said.

The Eswatini delegation, which is on a 10-day visit to Taiwan until Wednesday, is headed by Sibani Mngomezulu, chief executive officer of the Eswatini Investment Promotion Authority, the ministry said in a recent press briefing.

At the forum, entrepreneurs from the African nations are to meet with their Taiwanese counterparts to explore business and investment opportunities, the ministry said, adding that there is great potential for the development of trade and economic relations between Taiwan and Africa.

With an average 5.5 percent GDP growth, huge land mass, abundant natural resources and a young labor force, Africa has emerged as one of the fast-growing economic areas in the world, the ministry said.

The African Continental Free Trade Area, which took effect in May among 54 of 55 the African Union nations, is the largest of its kind in the world in terms of participating countries, after the WTO, the ministry said.

In view of these factors, Taiwan is hoping to build closer links with African nations, it said.

The ministry said that it would host a presentation on market conditions and business opportunities in Africa tomorrow, the second day of the business forum, which begins today and runs through Friday.

The forum was organized by the Taipei-based Africa Taiwan Economic Forum, the Ministry of Economic Affairs’ Taiwan-Africa Trade Promotion Office and the Taiwan External Trade Development Council.

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