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Transformation Agenda

Nigeria-Taiwan Trade Volume Hits $1.63 Billion

Headquarters of the Central Bank of Nigeria in...

Headquarters of the Central Bank of Nigeria in Abuja, Nigeria (Photo credit: Wikipedia)

The representative of Taiwan Government in Nigeria, Ambassador Tien-Hsing Yang, has disclosed that his country’s business transaction with Nigeria for the year 2013 is $1.63 billion; making Nigeria its largest trade partner in Africa.

Yang revealed this at the recent inaugural meeting of the Nigeria-Taiwan Business Association in Abuja.

According to him, “In 2004, 2006 and in-between 2008, the trade volume with Nigeria was at $440 million, and presently, the total trade volume stands at $1.63billion through direct foreign trade and the Cross-Straight Economic Relationship has been very impressive.”

Stressing further, he said, “Come November 18 this year, there will be a 21-member delegation from Taiwan on a trade meeting in Lagos and this will provide the Taiwanese investors the opportunity to meet and interact with its Nigeria counterpart.”
Responding, the Executive Secretary/CEO Nigerian Investment Promotion Commission (NIPC), Mustapha Bello said, “Actually, it is a formation of an association and we are formally inaugurating the association between Nigeria businessmen and the Taiwanese counterpart; and, to also use it as a bridge to get across to the private sector in Taiwan and link them up with the private sector in Nigeria so as to get a faster engagement of both sides.”

Bello added: “We are the ones that have actually be looking forward to bringing the private sector from Taiwan to Nigeria over-time. But, now that an Association is formed, they will take over that, but of course, we will work for them to be able to provide them with the necessary support that is required and that will been require at any giving time to really actualise this main objective of forming the association.”

Addressing the gathering earlier, the Chairman, Nigeria-Taiwan Business Association, Mr. M. Adoki said, “As a business association, we are here together to facilitate the processes that will have major impact on the lives our two countries, Taiwan and Nigeria.

“I believe with the formation of this association, we will have a very good trade relationship with our Taiwanese investors and I’m very happy about this development as it will provide us the opportunity to engage and interact with the best technocrats the Taiwanese provides.”

About TransformationWatch

TransformationWatch is an online news site founded by Henry Omoregie It is focused on keeping tabs on the Transformation Agenda set out by the Nigerian leadership in the Local, State and Federal Governments. My mission is to observe, analyze and report milestones or slowdowns in promised service delivery in all the facets of governance in Nigeria (2011 and beyond). Readership is open to all Nigerians and friends of Nigeria alike, regardless of Tribe, Religion or Political divide. We are all in this together


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