James Huang, Chairman, of the Taiwan External Trade Development Council (TAITRA), says that Taiwan is set to revolutionize the global tech scene, with Nigeria at the forefront of its strategic focus.
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Huang said this during the 2024 Taiwan Technology Day which was organized by the Taiwan Trade Centre in Lagos on Friday.
Highlighting Taiwan’s dominance in Information Technology (IT), electronic manufacturing, and Artificial Intelligence (AI), he said that it was eager to forge innovative partnerships with African enterprises and governments.
“Taiwan is the leading country in terms of information technology industries and we are the most critical country when it comes to electronic manufacturing, information, and technology transformation.
“We are also the most critical country when it comes to AI because Taiwanese companies produce more than 90 percent of global computer servers and data centers.
“So, I see a very bright future for cross-federal cooperation between Taiwan and African countries, particularly Nigeria,” Huang said.
He noted that Nigeria and Taiwan are poised for robust collaboration in strategic sectors including petrochemicals, machinery, and consumer goods
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Huang explained that as Africa’s largest oil producer, Nigeria’s upstream and downstream capabilities aligned with Taiwan’s strengths in petrochemical industries.
He noted that Nigeria and Taiwan are poised for robust collaboration in strategic sectors including petrochemicals, machinery, and consumer goods.
He stressed that this synergy would present opportunities for cooperation in chemicals, machine tools, auto parts, and consumer goods.
The TAITRA chairman added that by leveraging their complementary expertise, both nations could foster economic growth, industrial development and mutual prosperity.
Speaking generally, he said African countries were moving very fast in terms of new technologies from the internet to smartphones application and all the way into the future of AI era.
Huang said this was happening because people in Africa, especially Nigerians, were very smart and that was why Taiwan foresaw a lot of its companies working with Nigerian businesses.
“As one of the most populous countries in Africa with multiple investment opportunities, we plan to encourage more Taiwanese companies to come to Nigeria to set up their manufacturing industries here.
“So far, we have about 80 Taiwanese companies in Nigeria,” Huang said.
Speaking on challenges that could hinder collaboration between both countries, he said key areas of concern for potential investors included labor costs, land acquisition and reliable electricity supply.
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The TAITRA chairman, however, noted that through collaborative efforts with their Nigerian counterparts, they had witnessed significant strides in addressing the issues.
“The Nigerian government’s initiatives to enhance the ease of doing business have yielded substantial improvements over the past few years,” he said.
Also speaking, Mr. Sola Obadimu, Director-General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said that Nigeria’s strategic position in Africa made it a vital partner for Taiwan.
He noted that Nigeria recognized the importance of nurturing the relationship and capitalizing on the opportunities presented.
“It is essential for us to be proactive and seize these opportunities, instead of risking being overshadowed by Taiwan’s potential partnerships with other African nations,” Obadimu said.
Similarly, the President, Lagos Chamber of Commerce and Industry (LCCI), Mr. Gabriel Idahosa, said, “Nigeria and Taiwan have a rich history of trade and investment, marked by steady growth and expansion.
“Taiwan has consistently provided Nigeria with high-quality, cutting-edge technology, materials and services.
“As the partnership evolves, we have witnessed increased collaboration in specialized areas where Taiwan boasts exceptional expertise, driving innovation and progress in key sectors.
“This deepening cooperation will continue to foster economic development, industrial advancement, and mutual prosperity for both nations,” Idahosa said.
