GOVERNMENT OF THE KINGDOM OF ESWATINI
MINISTRY OF COMMERCE, INDUSTRY AND TRADE
FOR IMMEDIATE RELEASE
ESWATINI IMPLORES TAIWAN TRADE COUNCIL TO SET UP REGIONAL OFFICE IN THE KINGDOM
Mbabane, Eswatini – Government’s Economic Turnaround Strategy is already taking shape as the Kingdom has scaled its efforts to promote Foreign Direct Investment (FDI) through engaging international strategic partners.
Minister of Commerce, Industry and Trade Manqoba Khumalo is currently in the Republic of China, Taiwan, where he is having a series of meetings aimed at enhancing trade between the two countries. On Monday, the Minister met with officials from the Taiwan Economic Trade Development Council (TAITRA) as well as the Chairperson of the Taiwan Sugar Corporation, Charles Huang. He is also due to meet the Taiwan Africa Business Association.
Discussions with TAITRA were focused on the following key areas:
- Expanding trade across the two countries to optimise the Economic Cooperation Agreement (ECA) by looking for further opportunities and encouraging Foreign Direct Investment into Eswatini;
- Lobbying TAITRA to set up their SADC regional office in Eswatini. Eswatini is set to become the economic hub for Africa, which is earmarked to be among the fastest growing economies globally.
- Requesting technical assistance in designing Eswatini’s economy and infrastructure to effectively support an export-based economy, which is how Taiwan turned its own fortunes around.
“TAITRA is seriously considering setting up in Eswatini. They also agreed to expand the participation of Taiwanese companies during this year’s Eswatini International Trade Fair (EITF), which we launched only last week, by at least 30 percent,” the Honourable Minister said.
Reciprocally, Eswatini will also increase its participation in the Taipei Trade Fair to be held in June this year. The Kingdom intends to occupy a whole pavilion instead of a stand.
ESWATINI TO SIGN ECA RULES OF PROCEDURE WITH TAIWAN
On another note, the Kingdom of Eswatini will this week finalise the Rules of Procedure for the Economic Cooperation Agreement (ECA).
Apart from finalising the rules of procedures, Minister Manqoba Khumalo also aims to persuade a major Taiwanese company to set up shop in Eswatini.
“A lot of work has gone into persuading this company but they are yet to make a formal commitment. I will spend time at their premises and hopefully persuade them to commit formally,” the Minister said.
Meanwhile, the Minister had a fruitful meeting with the Taiwan Sugar Corporation Chairman, Charles Huang. During their deliberations, they discussed how Taiwan Sugar had diversified its operations and how Eswatini could learn from their example. They also explored the possibility of exporting sugar to Taiwan.
Lastly, they discussed pork production using the latest technology since Taiwan is a net importer of pork. Taiwan Sugar Corporation is the leading pork producer in Taiwan.
The Minister also hopes to discuss beef exports into Taiwan.
Released by: Thabile Mdluli – Communication Officer
21 May 2019