ABUJA – Mr Olusegun Aganga, the Minister of Industry, Trade and Investment, has called for improved trade, economic and bilateral ties between Nigeria and Taiwan.
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Aganga made the call when he received a team from Taiwan Trade Mission in Abuja on Thursday.
According to him, trade and investments between Nigeria and Taiwan nose-dived to $800million in 2014 from $1.6billion in 2012 and $1.2billion in 2013.
The minister recalled that the ties between Nigeria and Taiwan dated back to 1999 when a trade office was inaugurated in Taiwan.
Aganga added that part of the mandate of the trade office was to promote economic, trade and investment activities between them.
Aganga said the Federal Government established the Calabar Free Trade Zone many years ago to ease all difficulties associated with trading activities based on Nigeria’s zeal and determination to promoting trade and investment.
“Nigeria has many raw materials that can be used in the production of electronics, personal computers and other technologies in Taiwan.
“You can use the material and start production here in Nigeria and sell here, and take your money to Taiwan.
“You can establish industries here to produce in Nigeria, it will increase the quality and improve the bilateral and economic relations which can also be sustained’’, he said.
He advised Taiwan to transfer technical knowhow to Nigeria just like Turkey.
Aganga noted that there were many ways to collaborate; assuring the team that government would look into a proposed MoU with a view to signing it.
Responding, Head of Taiwan mission, Mr Morgan Chao, said the team was in Nigeria to promote and improve upon the existing economic ties between Nigeria and Taiwan.
He said such forum could help to resolve any issues that may arise in a relation through regular consultations with partners.
Chao said the state of trade/investment between the partners was alarming, urging the two to do something to increase the rate of trade flow.
“As Taiwan is famous in agriculture and electrical products and Nigeria is famous in agriculture and crude oil, there is the need to improve upon our ties’’, he said.
He assured that Government of Taiwan would buy more of Nigeria’s crude oil. (NAN)