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Taiwan electronics sector looking for business opportunities in Nigeria

Taiwan hopes to update 1994 investment agreement

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The Taiwan-Nigeria business forum. (CNA, MOFA photo) 

The Taiwan-Nigeria business forum. (CNA, MOFA photo) 

TAIPEI (Taiwan News) — Taiwan is eagerly looking for trade and investment opportunities for its electronics sector in Nigeria, reports said Friday (Dec. 7).

The issue was the subject of a video conference sponsored Thursday (Dec. 6) by the Ministry of Foreign Affairs (MOFA) and Nigeria’s trade office in Taipei, CNA reported. More than 100 business leaders from the food, agriculture, science and technology, transportation, and computer sectors participated in the event.

In his opening speech, Vice Foreign Minister Alexander Yui (俞大㵢) emphasized the complementary points of both economies in several fields, including food processing, machine tools, and car parts. He also encouraged Taiwanese businesses to use the opportunities provided by the African Continental Free Trade Area agreement.

A bilateral investment protection and promotion accord first signed in 1994 is up for renewal in order to strengthen the foundation for business deals, Yui said.

Nigerian Deputy Minister of Trade, Industry and Investment Evelyn Ngige praised the event for promoting economic and trade ties while expressing the hope that delegations could visit each other in Taiwan and Nigeria once the COVID-19 pandemic subsides.