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Trade fair for African buyers generates US$19 million in sales

2018/11/21 18:37:55

Image taken from Pixabay

Taipei, Nov. 21 (CNA) A trade event targeting buyers from Africa held in Taipei over the past two days has helped generate an estimated US$19.65 million in sales of a wide range of Taiwan-made products, the organizer said Wednesday.

During the event, 294 Taiwanese companies, including Chunghwa Telecom, TECO Electric and Machinery Co., China Chemical and Pharmaceutical Co. and ADATA Technology Co., conducted 430 consulting meetings Monday and participated in a trade forum hosted the following day by the Foreign Trade Bureau and African missions in Taiwan, said the Taiwan External Trade Development Council (TAITRA), a government- sponsored trade promotion group.

Around 48 buyers from 12 African countries, including eSwatini, Egypt and South Africa, placed orders for products and solutions worth about US$19.6 million, including machinery equipment and spare parts, Internet of Things (IoT) hardware and software, biotech and medical care products and automobile parts, according to TAITRA.

Africa's potential for economic growth offer huge business opportunities for Taiwanese enterprises, particularly after the United States announced earlier this year that is was increasing its investment in the continent, an economics official said.

Despite the geographic distance between Taiwan and Africa, Taiwanese businesses could use its diplomatic ally eSwatini as a hub to venture into other African countries, said Y.C. Tsai (蔡允中), deputy head of the Ministry of Foreign Affairs' Department of International Cooperation and Economic Affairs.

Last year, TAITRA signed memorandums of understanding with four major economic and trade promotion groups in Africa to help Taiwanese businesses expand their markets in Africa by promoting business exchanges, mutual visits by business groups and the sharing of market information.

In addition, the Taiwan-based Chinese International Economic Cooperation Association will send a delegation to South Africa, Mozambique and eSwatini to tap business opportunities in those countries, according to TAITRA.

(By Liao Yu-yang and Evelyn Kao)