Taiwanese companies aim to establish footholds in UAE for Africa trade
Taiwanese companies are looking to establish a presence in Dubai in order to trade with Africa, according to Mr. Shyh Perng Chang, director of Taiwan External Trade Development Council (TAITRA) Dubai office, as published in Emirates 247.
Trade between the UAE and Taiwan has increased in the past year by 7.1% from $6.7 to $7.2 billion, with $5billion constituting import trade to the ROC. Trade between the UAE and Taiwan has increased in the past year by 7.1% from $6.7 to $7.2 billion, with $5billion constituting import trade to the ROC
According to the Africa Taiwan Economic Forum, Taiwan currently has formal relations with five countries in continental Africa, namely Burkina Faso, Sao Tome and Principe, Swaziland, Nigeria and South Africa with the bulk of exports to Africa being electrical appliances, daily appliances and machinery and imports being mostly agricultural products and raw materials.
Despite its status as a major provider of electrical components and consumer products, Taiwan continues to struggle Chiin terms of international consumer recognition due to its ongoing contention with China for its position as an independent state, more commonly known by China as the ‘Mainland Issue’.
Major Taiwanese companies include android manufacturer HTC, semiconductor giant ASIX and Apple product manufacturer Foxconn. Since taking office in 2008, President Ma Ying-jeou has made serious inroads to improving cross strait relations and recent agreements, focused towards trade, public health and tourism, signed earlier this month indicate further progress between the two states, both of which have significant interest in increasing trade with the African continent. Related article Bridging UAE liquidity to Africa’s powerhouse economy
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Trade between the UAE and Taiwan has increased in the past year by 7.1% from $6.7 to $7.2 billion, with $5billion constituting import trade to the ROC