Taiwan at a Glance

TAITRA has held the "2023 Africa Business Day and Taiwan-Africa CEO Forum" on November 6th and 7th. The "Africa Business Day" on November 6th featured a procurement meeting, inviting 27 buyers from 10 countries, including Eswatini, South Africa, Nigeria, Somaliland, Egypt, Algeria, Kenya, Rwanda, Mozambique, and Ivory Coast. The event facilitated 216 meetings between 96 Taiwanese enterprises and the large scale buyers, such as the El Sewedy Group from Egypt, a major player in energy and wire manufacturing with an annual turnover exceeding $1 billion, and Conserverie Du Maghreb from Algeria, engaged in food processing with an annual turnover of over $100 million. Large scale Taiwanese companies, such as Advantech, Formosa Plastics Group, and Foxconn Health Technology,  also participated in the event. The 2023 Africa Business DAY aimed to create mutual benefits and opportunities, projecting an expected business value of $31.48 million.
Notably, Formosa Plastics Group expressed the rare opportunity to negotiate the purchase of PP plastic raw materials with SARL SMTP (AGGOUN GROUP), a major rope manufacturer from Algeria. Foxconn Health Technology also indicated successful connections with buyers from Mozambique during the event, believing that entering the Mozambican market could lead to opportunities in other surrounding African countries.
On November 7th, the "Taiwan-Africa CEO Forum" focused on Africa's business opportunities, challenges, and market trends in the context of the global supply chain, including long chains, short chains, and multiple chains. The forum attracted nearly 200 industry participants. The forum featured guest speakers, including Tony Kuo, the president of the Nigeria Taiwanese Chamber of Commerce, who expressed optimism about the overall potential in Africa and Nigeria. Amour Rhiad, Deputy Secretary-General of the Algerian Entrepreneurs and Industrialists Union, highlighted Algeria's growing domestic market, diverse industries, and favorable trade location, welcoming Taiwanese businesses to establish cooperative relationships. Representatives from Elsewedy shared observations on the electronic consumer market and strategies for positioning in the larger African market. Mhlatane Group from Eswatini emphasized Eswatini's rich agricultural resources and strategic geographical advantages, positioning it as a key entry point for Taiwanese businesses into Africa. In addition to representatives from South Africa, Nigeria, Eswatini, and Somaliland, the forum also included business leaders from other countries, such as Rwanda, Mozambique, and Ivory Coast, providing firsthand information to the industry.
Simon Wang, the CEO of TAITRA, highlighted that in 2023, the African Union became a permanent member of the G20 summit, expanding its participation in international affairs. With Egypt and Ethiopia joining the original member South Africa in this year's BRICS summit, Africa's essential role in global affairs is emphasized. The United Nations predicts that Africa's population will grow to 2.5 billion by 2050, constituting a quarter of the global population. Over the past 30 years, the African middle class has doubled to over 300 million people, representing over 34% of the continent's population. This burgeoning middle class, with its considerable purchasing power, is driving increased demand for various consumer goods, including automobiles, information and communication products, textiles and clothing, food processing, medical materials, and more. It is an opportune time for businesses to seize the development opportunities in Africa.