By Emma Emeozor
The visit of two Taiwan trade delegations led by top government officials to Nigeria within five months is, undoubtedly, evidence of the South East Asia Island’s desire to deepen ties with Nigeria by way of investing in the country, thereby contributing to the advancement of President Bola Tinubu’s “Renewed Hope” agenda in the area of technological growth.
Both delegations were made up of the country’s biggest trading and manufacturing companies that are also big players in the economies of many countries across the globe.
Unlike in the past when Taiwanese businessmen were more concerned with exporting finished products to Nigerian market, the rhythm has changed. Now, they are ready to invest in Nigeria by setting up manufacturing companies in the country.
This, indeed, was the core message delivered to Nigerian business community when former Foreign Affairs Minister and Chairman of Taiwan External Trade Development Council (TAITRA), Mr. James Huang, addressed the Nigerian media.
Earlier, Huang and members of team including Taiwan Representative and Chief of Taiwan Mission in Nigeria, Mr. Andy Yih-Ping Liu, had held a business session with Nigerian businessmen, including members of the Nigerian Association of Chamber s of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Lagos State Chamber of Commerce and Industry (LSCCI).
Noting that there’s great potential for profitable trade relations between Nigeria and Taiwan, Huang said the cooperation would cover a scope of industries, including manufacturing, technology, and infrastructure development.
With 80 Taiwanese companies already operating in Nigeria, some having been established 30 years, Huang is confident that the organisation he heads will not have difficulties asking other companies to invest in Nigeria.
But what makes Huang confident that Nigeria and Taiwan will enjoy mutual trade benefits. He said, “Taiwan is the leading country in terms of Information Technology industries and we are the most critical country when it comes to electronic manufacturing and information and technology transformation.
“We are also the most critical country when it comes to Artificial Intelligence because Taiwan companies produce more than 90 percent of global computer servers and data centers. So I see a very bright future in the trade cooperation between Taiwan and African countries particularly Nigeria.
“We visited the Asian Industrial Park. We also visited the Dangote refinery in Lagos. The industrial park was built by the Taiwanese with an entire land area of over 500 acres. So, there’s a lot of room to accommodate Taiwanese industries that are interested in investing in Nigeria. It is also one of our missions to return to Taiwan and to tell our business community about the potential of Nigeria and encourage them to come and invest. This is one of our mission coming to Nigeria‘’
Specific areas of cooperation
On specific areas of cooperation, Huang said: “Nigeria is the biggest oil producing country in Africa. And Taiwan, apart from our ICP, Semi-conductors, Taiwan is very strong in terms of petrochemical industries all the way from upstream to downstream applications.
“And so, I think that petrochemical industries downstream and upstream are very important, it is among the areas Nigeria and Taiwan can cooperate. Other areas are machineries, machine tools, machine parts, and consumer goods. I think that there are great potentials for both countries to work with.
Win-win our investment policy
Huang said the trade between the two countries was steadily growing.
“We import a lot of natural resources and energy related products from Nigeria and we export auto parts, machineries and consumer goods to Nigeria, so we would like to see more industrial cooperation between our two countries so that we can achieve mutual benefits and a win-win situation.
“And this is also a fact finding trip to Nigeria, and as I said earlier, Nigeria is the biggest economy and most populous country in Africa and we have also invited Taiwanese media to come with us so that we share our experience respectively when we return home because seeing is believing. Also, we will share the responses of Nigerian business community with that of Taiwanese companies in Nigeria.
Significance of Taiwan Industrial Park and Dangote refinery
Huang was upbeat when he drew attention to an industrial park near Lagos built by a Taiwanese company in Nigeria and the Dangote refinery. For him, the industrial park initiative was a testimony of how committed Taiwanese are to the economic development and growth of Nigeria. It is also an initiative that will attract more Taiwanese companies to Nigeria.
Describing Nigeria as a wonderful, huge country with great potentials and people so friendly, he said “we visited Dangote refinery, the biggest refinery in the world, seeing is believing. You won’t be able to imagine this kind scale of investment in Nigeria.
He described the refinery as “amazing”, noting that it is an encouraging sign that tells that Nigerians have business acumen and they are not trailing behind in global business innovation, they are resourceful and good global competitors. The refinery will be a source of attraction to Taiwanese businessmen, he added.
Adapting Taiwan technology to meet unique needs of Nigeria
I think African countries are moving very fast in terms of technologies from internet to smart phones all the way into the future of Artificial Intelligence era. Because the people of Nigeria are very bright, very smart, and in the future, everybody expects to see
Critical aspects of our lives, how we work, how to entertain ourselves, how we express ourselves what our societies will be like will be defined by new technologies, by Artificial Intelligence. And this is an area where Taiwan and Nigerian companies can work with each other a lot.
And I think that apart from petrochemical industries, machinery and auto parts, I firmly believe that ICT solutions, smart solutions, green energy solutions, those are all the strength of Taiwanese industries and we have a great potentials to work with each other.
Taiwan investors not scared by Nigeria’s current economic challenges
It is of note that the renewed push by Taiwanese businessmen is coming at time Nigeria was grappling with economic crisis. Interestingly, TAITRA has done its homework and is prepared for genuine business in the country. Huang was confident in his comment.
He said, when it comes to investment, every potential investor will be concerned about the labour cost, the steady supply of electricity, so those are issues we have been discussing with our Nigerian friends and we have seen a lot of improvement(s) with the efforts of the government and we have seen improvement in the ease of doing business here in Nigeria. And this is good news we hope to bring back to Taiwan.
Our challenges, opportunities for others -NACCIMA
Even in the face of talks on the economic challenge currently facing Nigeria, the Nigerian Association of Chamber s of Commerce, Industry, Mines and Agriculture (NACCIMA), the country’s umbrella business body insists that there is nothing to worry about because “challenges are also opportunities, depending on how you see it or how you look at it.”
The Director-General of NACCIMA, Olusola Obadimu was confident when he dismissed worries about economic challenges facing Nigeria. He was firm when he said: “What we mostly see as challenges are opportunities for some other people, some of them are even foreigners who take advantage of the situation.
“The big news here is that Huang is a former foreign Affairs minister for Taiwan and he is chairman of TAITRA, the Taiwanese External trade development organisation which means he is holding a very responsible position. So, when he was introduced by His Excellency as a big fish, that is the meaning, a foreign affairs minister, is like American Secretary of State, so it is not a small responsibility and now he is capping it up with sharing it with this responsibility, with a mandate to build trade opportunities for Taiwan outside Taiwan
“Nigeria is a critical partner in Africa and they are happy to be in that position. It will not be of good news to us if Taiwan is building trade partnership with some African countries on a bigger scale than ours. So we have to be mentally prepared to take advantage of the opportunity they have come to share with us.
“There is Dangote refinery that show Nigeria is not just waiting for foreigners to just come in to invest here. If locals are investing, it is a good sign for foreigners to say “why not we). So, you cannot be scared by whatever you might see as challenges. Opportunities are build on and foreign companies now have the liberty to take their money out under the Federal Government’s liberalised scheme. These are positives that have come out from this administration. Let’s take the green light and grow this bilateral relationship.”
TAITRA mission, to grow Nigeria, Taiwan business space -LSCCI
The presence of the Lagos State Chamber of Commerce and Industry (LSCCI) at the business session underscores the importance of the Taiwan trade mission to Nigeria. This is because Lagos State is the commercial capital of Nigeria.
And of note was the fact that Obadimu was not alone in his stance. Though he and the President of LSCCI, Gabriel Idahosa addressed the media separately, both leaders were in agreement that Nigeria has the enabling environment for foreign investment and the Taiwanese were on the right course.
Commenting on the business mission, Idahosa said: “Well, it is to raise the level of business between Nigeria and Taiwan. Nigeria and Taiwan have a very long history of doing business and it has continued to grow. Nigeria had always got from Taiwan very high tech quality materials and services.
“So, these services continue to grow and expand and there are special areas where they have expertise and there are a couple of manufacturing businesses here that rely on Taiwan technology. Today’s event is to grow that space. We have with us today some of the largest technological companies in Taiwan.
“Obviously, they understand the transformation Nigeria is going through and they want to be part of the next phase of Nigeria’s growth. They have gone to the Lekki Free Trade Zone, they have seen the Dangote refinery. And they are highly inspired that there are a lot of opportunities in Nigeria and they want to be part of it, the next phase of industrialisation. I think their presence here today is worthwhile for both countries.”
Idahosa believes that other foreign missions will follow the footsteps of the Taiwanese. He said: “Yes, as they say, birds of the same feather tend to fly together. Other international investors are coming. As this group is leaving Nigeria, other investors are coming. They are always attracting one another.
This year alone, there have been several business trips from Nigeria to Taiwan. Exchange of business trips is frequent. We also export to Taiwan, essentially in the oil and gas sector. We sell a lot of gas and oil to them and now they have began to consume some of our creative services, the Nollywood. They are now going there.”
TAITRA
TAITRA is “Taiwan’s foremost nonprofit trade3 promoting organization sponsored by the government and industry organizations.” It has four core mandates: To assist Taiwanese businesses in developing international market, to collaborate closely with Taiwanese government in trade policy implementation, to provide business consultation service and connect international firms with Taiwanese partners and to assume the role of “Smart Integrator,” complement government policies, facilitate industry needs and develop new business opportunities around the world.
Taiwan has expressed its readiness to give Nigeria the necessary support required to grow its technology.
This was disclosed by the country’s former foreign minister and Chairman of Taiwan External Trade Development Council (TAITRA), Mr. James Huang, during a business session between a Taiwan business delegation and Nigerian businessmen, including members of the Nigerian Association of Chamber s of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Lagos State Chamber of Commerce and Industry. The business session was organized by the Taiwan Trade Office in Nigeria and held in Lagos.
Huang recalled the old ties between Nigeria and Taiwan, saying that they are committed to strengthening the ties by assisting Nigeria to develop its technology for the purpose of achieving development and growth.
He explained that the flagship delegation to Nigeria was on a fact-finding mission to ascertain the level of Nigeria’s industrial advancement, the areas of challenge and how Taiwan manufacturing companies can intervene positively.
Huang said the ultimate goal of the delegation is to return home and encourage Taiwanese investors to come to Nigeria and set up companies that will manufacture their products locally without exporting them from Taiwan.
According to him, Taiwan manufacturing companies are efficient in the areas of petrochemical industries, machinery and auto parts, ICT solutions, smart solutions and green energy solutions among others.
He noted that Nigeria and other African countries are moving very fast in terms of technologies: from internet to smart phones all the way into the future of Artificial Intelligence era. “Because the people of Nigeria are very bright, very smart, and in the future, everybody expects to see the critical aspects of our lives, how we work, how to entertain ourselves, how we express ourselves, what our societies will be like in the future will be defined by new technologies, by Artificial Intelligence. And this is an area where Taiwan and Nigerian companies can work with each other a lot,” Huang said.
This is the second Taiwan business delegation to Nigeria within five months this year. The first delegation was led by the President of Globe Industries Corporation Mr. David Huang, in May, 2024, also under the sponsorship of TAITRA, Taiwan’s foremost nonprofit Trade promoting organization. The body is sponsored by the government and industry organisations
