TAIPEI (Taiwan News) — The Ministry of Foreign Affairs (MOFA) has announced that a Somaliland-Taiwan trade expo will begin Nov. 4 to promote trade between Taiwan and East African countries and assist industry players to enter emerging markets.
At a press conference on Tuesday (Oct. 26), Deputy Director of MOFA’s International Cooperation and Economic Affairs Chiu Chen-yu (邱陳煜) said in addition to the expo’s opening ceremony, an East African business matchmaking event will also be launched, CNA reported. Additionally, the Importers & Exporters Association of Taipei (IEAT) and the Somaliland Chamber of Commerce will sign a memorandum of understanding (MOU).
Chiu said the trade fair is made possible by the efforts of MOFA, Taiwan External Trade Development Council, IEAT, and Taiwan’s Somaliland representative office.
The virtual and in-person components of the fair as well as the business matchmaking project help promote trade exchanges between Taiwan and East African countries such as Somalia, Ethiopia, and Kenya, Chiu said. He added they also allow businesses to enter emerging markets in the region, help them gain familiarity with the layout of the market, and find business opportunities post-pandemic, per CNA.
The deputy director pointed out that Somaliland is an important trade hub along an international shipping route. He added its Port of Berbera is where the majority of East African nations barter for global goods and energy resources.
EU and Middle Eastern countries have been actively investing in the region in recent years, he added. Chiu said the African Continental Free Trade Area was established on Jan. 1, which will help create a single market for trade in goods and services in Africa, adding that future business prospects look promising.
He said MOFA encourages Taiwanese businessmen to make good use of Somaliland’s advantageous location to strengthen exports and sales to the East African market and use this event to develop business opportunities in the continent. The two countries organized the 2020 Taiwan Trade Fair last October, at which 160 local business and political VIPs attended the opening of the two-day event.
Press-release by Taiwan Representative office in Somaliland
To take the advantage of the completion of the Berber Seaport Phase I Project, Berbera International Airport, Berbera Economic Zone, Berbera Corridor, and AfcFTA took effect from 1st January 2021, The Taiwan Representative Office accordingly holds the Taiwan Expo 2021 in Somaliland on November 4th to 5th .
Taiwan Expo 2021 in Somaliland focuses on areas including agricultural and fishery processed products, bio-medical, auto parts, green energy (to address the COP26’s climate change issues), ICT, ocean freight and air freight logistics, coffee export to Asia, etc. This is an effort to promote Taiwanese quality products through Somaliland to East African markets and to establish B-2-B relationship and business platform between Taiwan and East Africa.
In the event, seminars focus on “The investment and trade opportunities in Somaliland”, “How to do business with Taiwan “, ” Fishery and Green Energy Opportunities in Somaliland ” are co-hosted by The Taiwan Representative Office, Taiwan External Trade Development Council (TAITRA) and Somaliland Ministries.
Moreover, the Importers & Exporters Association of Taipei (IEAT) signs an Agreement of Mutual Cooperation with the Somaliland Chamber of Commerce, Addis Ababa Chamber of Commerce & Sectoral Association and Kampala City Traders Association (KACITA) to further build business links through the visual meetings.
Business knows no borders. Facing the post-pandemic era, Taiwan will continue to play an important international economic and trade role, and to deepen economic and trade cooperation with the Africa countries.
According to MOFA, 73 Taiwan businesses will be showing over 400 medical, communication, food, solar power, and automotive part products during the expo.
During the event, the IEAT signed sister association memoranda of partnership with the Somaliland Chamber of Commerce, Industry and Culture, Addis Ababa Chamber of Commerce and Sectoral Associations, and the Kampala City Traders Association. The IEAT also announced the online instant business exchange platform, while products from East African countries were also flown into Taipei for Taiwan businesses to see.
