JOINT COMMITTEE TO FOSTER TAIWAN – ESWATINI TRADE

MBABANE - The Republic of China (Taiwan) and Eswatini have established a joint committee to push for bilateral economic cooperation.

Taiwan’s Economics Minister Shen Jong-Chin and Minister of Commerce, Industry and Trade Manqoba Khumalo signed a resolution for the establishment of the joint committee under the Economic Cooperation Agreement (ECA) between Taiwan and Eswatini, which took effect in December 2018.

“With the economy in Africa growing, Eswatini is aggressively integrating itself with the region economically and enjoys preferential tariff status with more than 20 counterparts in the region,” Shen said as reported by Taiwan News yesterday.
“The African ally is expected to serve as a base for Taiwanese companies that have set their sights on the growing African market,” Shen was reported to have said.

Eswatini is one of Taiwan’s 17 diplomatic allies and the only one in Africa.
Shen said many Taiwanese exporters had expressed interest in working with Eswatini to extend their reach in the African market, and if necessary, the Ministry of Economic Affairs (MOEA) would organise delegations to visit the country and facilitate bilateral cooperation.

“Currently, some Taiwanese textile companies function very well in eSwatini,” Shen said. “For an expansion of economic ties, the MOEA is planning to provide assistance to Taiwanese companies to develop agriculture and food processing businesses there,” it was reported.

Foundation

According to Shen, textile maker Tex-Ray Industrial Co. has established a sound foundation in Eswatini in its core business, and Tex-Ray Chairman Lin Jui-Ya Cueh  was even planning to grow avocado pears.

The Taiwan Avocado Company will employ about 150 people during the phase. The number is set to increase to around 500 once the company is at full-blown capacity. It could start operating by the end of 2019. Taiwan Avocado Company is an agriculture development company which intends to harvest, process and export avocados. 

The projects investment amount is about E35 million.  The project will be in two phases. In the first phase the company plans to allocate a farm land 500 and 000 hectares to plant avocado trees. The second phase plans to be to establish an agriculture-product processing factory in Bio-Park. The target market for the company is Taiwan and other Asian countries. 

Shen was also reported by the Taiwanese publication to have said he had invited I-Mei Foods Co., one of Taiwan’s leading food brands, to team up with Tex-Ray in a bid to explore the agriculture and processing food market in the African country.

Addressing the ceremony for the establishment of the joint economic cooperation committee, Khumalo said his ministry aimed at taking advantage of Eswatini’s investment policy to help the country’s agriculture business become more export-oriented and strengthen its competitiveness. On the back of the ECA and the joint economic cooperation committee, Khumalo said he expected bilateral economic ties to grow quickly.

It should also be mentioned Taiwan’s largest fertiliser company Taiwan Fertilizer Co. Ltd is looking for an Eswatini company to partner with. This was one of the companies that Khumalo was negotiating with to set up shop in Eswatini. The minister was in Taiwan with the aim of marketing the country to potential investors.

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