EIPA stimulates export trade for EmaSwati to Taiwan with support from TAITRA

As the facilitator of trade agreement participation in Eswatini, The Eswatini Investment Promotion Authority (EIPA) is pleased to announce the addition of product lines to the Economic Cooperation Agreement (ECA) signed between Eswatini and Taiwan in 2018. As of November 2023, The Government of Taiwan has added 46 product lines to those which can enter Taiwan duty free from Eswatini. These 46 products will be added to the existing 153 product lines taking the total number of duty-free product lines to 199.

This development gives 199 product lines from Eswatini duty-free market access to the Taiwanese market providing further opportunities for Eswatini made products to enter this lucrative client base. It is hoped that this will result in increased exports for the country over time.

Prior to the additional product lines being added, the benefit of the ECA to Eswatini’s exporters can be seen in 2022 trade figures to Taiwan. Eswatini’s total exports to Taiwan in 2022 amounted to US$6 024 000 and was largely dominated by beverages and spirits. Other products include fresh fruits and vegetables, condiments, honey, liquor, home decor and a small percentage of others. In 2021 total exports stood at US$6 245 000 which shows significant exports to Taiwan over the two years. This indicates that exporters are taking advantage of the preferential market access granted to Eswatini made products through the ECA.

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Sibusiso Mnisi, Manger External Trade at EIPA comments,” We look forward to seeing the continued growth of exports to Taiwan from Eswatini through the ECA signed between the two countries. Local exporters are urged to engage with EIPA on the new product lines added to the ECA and how they can be of use to them. EIPA would also like to applaud the Ministry of Commerce, Industry and Trade for its tireless efforts in creating more preferential market access for Eswatini products into Taiwan and regional and international markets.”

Before the ECA came into force, in 2018, export trends from 2017 stood at US$227 000 and increased to US$664 000 in 2019 after the Economic Cooperation Agreement was signed the following year. This is further testament to the value the agreement holds and the benefits it has for traders and the country’s export activity at large.

Eswatini’s total imports from Taiwan in 2022 amounted to US$10 063 000 and was largely dominated by machinery, medical equipment, cereals, inputs to textiles and apparel. Taiwan is Eswatini’s 13th highest import destination. This list is largely dominated by SADC countries.

One of the initiatives which has contributed to an increase in exports to Taiwan is the exposure local companies receive at trade shows in Taiwan. EIPA has once again received support from The External Trade Development Council (TAITRA) to allow local businesses to exhibit their products at 3 trade shows in Taiwan in 2024. This opportunity allows traders to exhibit their goods to the Taiwanese market first hand. Through their participation, exhibitors from Eswatini have access to international buyers from mainly Asia, Europe, and South America. The support to local companies from TAITRA and facilitated by EIPA includes subsidies covering transport, a space at the Eswatini exhibition stand, accommodation, marketing and branding and B2B meetings with buyers.

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This year, TAITRA has made it possible for 22 businesses from Eswatini to exhibit their products in Taiwan. This opportunity translates to sending these local traders to 3 trade shows in 2024 which focus on the creative industry and the food and beverages industry. The trade shows include Designed Giftionery Taipei to be held in April, The Taipei International Food Show in June and the Kaohsiung Food Show in October 2024. Applications to the Taipei International Food Show are now open. More information can be found on the EIPA Facebook, Instagram and LinkedIn pages.

TAITRA’s support in this regard has yielded positive results for traders allowing them to realise export activity from the Taiwanese market which is highly lucrative and open to purchasing products from abroad.

ENDS

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