Times Of Swaziland: JOINT COMMITTEE TO FOSTER TAIWAN – ESWATINI TRADE

JOINT COMMITTEE TO FOSTER TAIWAN – ESWATINI TRADE
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BY KWANELE DHLADHLA  on 24/05/2019 03:45:00


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.