Saturday, October 12, 2013

Seminar to feature business opportunities in Africa

Taipei, Oct. 12 (CNA) A seminar featuring new business opportunities in emerging African economies will take place in Taipei later this month, as part of the government's efforts to boost its exports, Taiwan's main trade promotion body said Saturday.

The seminar is being held because Africa has been the fastest growing continent in the world over the past decade, the Taiwan External Trade Development Council (TAITRA) said in a statement. It is seen as important for Taiwanese companies to tap business opportunities there.

Among the world's top 10 fastest growing economies, seven are in Africa, TAITRA said, describing it as transforming from a "dark continent" into one with hope.

The event will focus on five African economies -- Mozambique, Tanzania, Uganda, Ghana and Burkina Faso, TAITRA said.

In addition, market experts and company representatives will share their experience and insight on the African markets, the organizers said.

So far, Taiwan's investments and exports to Africa are still relatively small. Taiwan's exports to Africa totaled US$2.1 billion during the first seven months of the year, up 8.38 percent from the same period a year go, and better than the overall gain of 2.28 percent, according to official statistics.

The new interest in African markets comes as Taiwan is seeing slowing growth in its exports. In the first nine months of the year, Taiwan's overall exports rose 1.3 percent year-on-year to US$226.64 billion and imports fell 0.9 percent to US$201.92 billion, statistics showed.

Due to the global economic uncertainty and the need to find more export destinations, Taiwan has been focusing more on emerging markets in 2013, TAITRA said.

(By James Lee)

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