By Sifiso Dlamini | 2019-05-22
Taiwan Economic Trade Development Council (TAITRA) wants Taiwanese companies participation in this year’s Eswatini International Trade Fair (EITF) increased.
Minister of Commerce, Industry and Trade Manqoba Khumalo is currently in the Republic of China on 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 TAITRA as well as the Chairperson of the Taiwan Sugar Corporation, Charles Huang. He is also due to meet the Taiwan Africa Business Association.
“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 per cent,” said Khumalo.
He added that reciprocally, Eswatini would also increase its participation in the Taipei Trade Fair to be held in June this year. The Kingdom intended on occupying a whole pavilion instead of a stand.
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.
Part of the minister’s discussions with TAITRA focused on key areas including expanding trade across the two countries to optimise the Economic Cooperation Agreement (ECA) by looking for further opportunities and encouraging foreign direct investment (FDI) into Eswatini.
The discussions also included 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.
The discussions also involved taking a page out of Taiwan’s success as the minister requested 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.
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