Taiwan calls for speedy signing of trade agreement by Nigeria to foster bilateral relations

From Godwin Tsa, Abuja

The Taiwanese Government has appealed to Nigeria to sign the Investment Promotion and Protection Agreement (IPPA), which has been discussed by the two countries in order to facilitate improved bilateral relations that would explore mutually beneficial opportunities between both countries.

Chief Taiwanese Mission at the Taipei Trade Office in Nigeria, Andy Yih-Ping Liu, who made the call in Abuja during an interactive session with a section of the media, noted that the signing of the document would significantly foster improved relations and socio-economic growth for both countries.

Mr. Liu further urged President Bola Tinubu to return Taiwan’s Mission Office to Abuja, where it had been since all foreign missions and embassies were moved from Lagos to Abuja in the year 2000, following Nigeria’s return to civilian rule in 1999.”

The IPPA which is a legal document between two or more countries is expected to be signed by the Attorney General of Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, on behalf of the government of Nigeria.

It is aimed at safeguarding investment made by investors from one country within the territory of another, offering protections like fair treatment, compensation for expropriation and dispute resolution mechanisms, essentially promoting direct foreign investment by mitigating risks for investors.

Mr.Liu stated that the renewal signing of the IPPA would greatly encourage Taiwanese investors interested in visiting and investing in Nigeria.

He said the bilateral relations with Taiwan would help Nigeria in developing its agriculture, natural minerals and energy industries,” Mr Liu said, adding that, “Taiwan has done it with Australia for about 20 years now.”

He acknowledged that while Nigeria has natural resources, Taiwan doesn’t have any but has the technical know-how to develop those natural resources for socioeconomic development of both countries.

He added that Taiwan doesn’t do backdoor deals or illegal mining in Nigeria or anywhere else in the world.

The diplomat said Nigeria being a democratic nation and the largest democracy in Africa, shouldn’t be dictated to by any country, especially those who don’t practise democracy.

“Nigeria has sustained its powerful democracy since 1999, how then can a totalitarian regime dictate to the biggest democracy in Africa?” Mr Liu queried.

He disclosed that even the world powers, United States of America, Russia and other European countries, trade and make other bilateral agreements with Taiwan independently.

“China trades in billions of dollars with Taiwan every year. So, no one can stop Nigeria from trading with Taiwan,” he said.

On the claim by the Chinese Government in Beijing that it has jurisdiction over Taiwan, Mr Liu clarified that the Taiwanese Mission is not under the Chinese embassy or its government, noting that both Asian countries have distinct sovereignty.

“China cannot issue visas to Taiwan. Visa issuance is a symbol of sovereignty. The Chinese Government can’t issue passports to Taiwanese, only Taiwan can,” he noted.

According to the diplomat, Taiwan welcomes the re-activating of bilateral consultations of the two governments, and would like to propose consultations being hosted at Permanent Secretary level/ decision-making officials.

While urging Nigeria Government to take up world trend of collaborating with Taiwan to upgrade and deepen our bilateral relations in the near future, he said the Taiwan’s industrial capability is high quality and deeply trusted by Nigerians, “so the most important thing for the government is to attract more Taiwanese companies to come to Nigeria to do trading and investment.

“So, it’s important that Nigeria and Taiwan renew the agreement of protection of investment,” Liu stressed.

Speaking on the shared values of democracy and development, he said: “Nigeria and Taiwan are nation’s that uphold democracy and development as fundamental principles. Our two countries share a common commitment towards fostering core values of democracy that guarantees freedom of choice by our citizens to birth its leadership.”

Liu said the Taiwanese people commend and appreciate Nigeria’s steadfast commitment to upholding democracy in West Africa, as well as developing wholeheartedly into an advanced economy.

He said Taiwan has never been so proud by the open declaration of President Tinubu during his campaign in November 2022 that he would promote the South-East of Nigeria to become the “Taiwan of Africa” and is ready to offer assistance to fulfil the great Renewed Hope Agenda”.

In addition, the Taiwan diplomat said Taiwan and Nigeria are fellow members of the World Trade Organisations (WTO), and share common free trade ideals. “We will collaborate to strengthen Nigeria-Taiwan cooperation on economic investment, education, culture, medical and public health among others,” he stressed.