1 week ago
21
By 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 nations.
Chief Taiwanese Mission at the Taipei Trade Office in Nigeria, Andy Yih-Ping Liu, made the call in Abuja during an interactive session with a section of the media, noting that the signing of the document will 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 before 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, a legal document between two or more countries, is expected to be signed by the Attorney General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi SAN, on behalf of the Nigerian government. It is aimed at safeguarding investments made by investors from one country within the territory of another, offering protections such as 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 and signing of the IPPA will 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. “Taiwan has done it with Australia for about 20 years now,” Mr. Liu said, adding that “Taiwan has the technical know-how to develop Nigeria’s natural resources for socio-economic development, despite Taiwan not having any natural resources of its own.”
He also emphasized that “Taiwan doesn’t do backdoor deals or illegal mining” in Nigeria or anywhere else in the world.
The diplomat noted that Nigeria, as a democratic nation and the largest democracy in Africa, should not be dictated to by any country, especially those that do not practice 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 world powers – the United States, Russia, and other European countries – trade and make 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 a visa 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 reactivation of bilateral consultations between the two governments and proposes that consultations be hosted at the Permanent Secretary level or by decision-making officials.
While urging the Nigerian government to take up the global trend of collaborating with Taiwan, Liu stated that Taiwan’s industrial capability is of high quality and deeply trusted by Nigerians. “The most important thing for the government is to attract more Taiwanese companies to come to Nigeria to engage in trading and investment.”
“So, it is important that Nigeria and Taiwan renew the agreement on the protection of investment,” Liu stressed.
Speaking on the shared values of democracy and development, Liu stated, “Nigeria and Taiwan are nations that uphold democracy and development as fundamental principles. Our two countries share a common commitment to fostering core values of democracy that guarantee freedom of choice by our citizens to bring forth leadership.”
Liu said the Taiwanese people commend and appreciate Nigeria’s steadfast commitment to upholding democracy in West Africa and its wholehearted development into an advanced economy.
He also mentioned Taiwan’s pride in President Tinubu’s declaration during his campaign in November 2022, in which he expressed the intention to promote the South-East of Nigeria to become the “Taiwan of Africa,” and Taiwan’s readiness to offer assistance to fulfill the Renewed Hope Agenda.
In addition, the Taiwan diplomat stated that Taiwan and Nigeria are both members of the World Trade Organization (WTO) and share common free trade ideals. “We will collaborate to strengthen Nigeria-Taiwan cooperation in areas such as economic development, investment, education, culture, medical, and public health,” he stressed.
English (US) ·