Taipei, Jan. 10 (CNA) More than 80 Taiwanese companies are exploring business opportunities in Africa, where most countries welcome investment from and trade development with Taiwan, the chairman of the Taiwan-Africa Business Association (TABA) said Thursday.
"The African continent is rich in natural resources and is a large market that Taiwanese businesses need. While Taiwan has suffered on the continent diplomatically as a result of China's oppression, we as businessmen have been able to develop multilateral ties with African businesses without interference from China, " Eden Chou said at a TABA anniversary ceremony.
More and more local companies are eyeing Africa, with TABA membership increasing from 40 to more than 80 in a year, said Chou, who sells auto parts in Egypt, Nigeria and Ghana.
The association, which was established last year with the help of the Taiwan External Trade Development Council (TAITRA) , has sent 11 delegations to seven African countries -- Nigeria, Egypt, South Africa, Ghana, Gambia, Kenya and Ivory Coast -- to gather information and seek potential partners.
TABA has enjoyed fruitful results, signing Memoranda of Understanding with the Kenya Association of Manufacturers and the Egyptian Businessmen Association, and is scheduled to send out more delegations in collaboration with TAITRA.
"We welcome investment from all sectors in Taiwan and look forward to establishing stronger bilateral trade relations. With 14 million people, Burkina Faso is an attractive market for Taiwanese businessmen, " said Jacques Sawadogo, Burkina Faso's ambassador to the Republic of China.
Speaking on Africa's appeal to Taiwanese businesses, Liaison Office of South Africa in Taiwan Deputy Representative C.A. du Toit said the population of the continent is predominantly young people who will be more educated and technology-smart in the future. In the long run, it will be an attractive market, she said.
However, local businessmen have been reluctant to directly invest in African countries because of various risks, but they still want to trade with African businesses, said Mike Hung, honorary vice chairman of TABA.
Most local companies trading with African partners are in the sectors of communication, minerals, civil engineering, solar energy and food processing, Hung said.