Chairman of the Taiwan External Trade Development Council, James Huang, has announced that Nigeria and Taiwan are poised to experience a significant enhancement in industrial cooperation.

This new commitment is expected to unlock substantial opportunities for economic growth, trade expansion, and industrial development, largely due to recent improvements in Nigeria’s business environment.

Speaking at the closing ceremony of Taiwan Technology Day in Victoria Island, Lagos, Huang, who led a delegation from the Taiwan External Trade Development Council, highlighted the tremendous potential for collaboration between Nigeria and Taiwan.

He praised Nigeria’s strides in improving the ease of doing business, which he believes will pave the way for stronger industrial ties.

Huang, a former Taiwan External Affairs Minister, said that the delegation’s visit included stops at the Asian Industrial Park, developed by Taiwanese companies, and the Dangote Refinery. The purpose of the visit was to enhance and expand the trade relationship between Taiwan and Nigeria.

He noted that the cooperation would span various industries, including manufacturing, technology, and infrastructure development.

“Taiwan leads in information technology and manufacturing and is a critical player in electronics and artificial intelligence. Our companies produce over 90 per cent of global computer servers and data centres. Taiwan is also strong in petrochemical industries, making this sector a promising area for collaboration with Nigeria,” Huang stated.

Huang pointed out that the trade volume between Nigeria and Taiwan is steadily growing, with Taiwan importing a significant amount of natural resources and energy-related products from Nigeria. He expressed optimism about the bright future for deeper cooperation, envisioning a mutually beneficial partnership.

The visit to the Asian Industrial Park and Dangote Refinery underscored the potential for Taiwanese industries to invest in Nigeria.

“The Asian Industrial Park, established by Taiwanese investors, spans over 500 acres, providing ample space for further Taiwanese investment. Our mission is to return to Taiwan and inform our business community about Nigeria’s potential, encouraging them to invest here,” Huang concluded.