January 13, 2008

Taiwan-Africa business group one year old

A group set up last year to promote Taiwanese business interests in Africa is celebrating its first anniversary. The Taiwan-Africa Business Association's Vice Manager Liao Tung-mo says Africa holds great potential for small and medium Taiwanese businesses. But he says prospective businessmen need to understand local conditions first.

Mr Liao said, "The groups we've taken over there have seen a lot of business opportunities. But there are a lot of considerations for us before entering that market, in terms of products, quality and pricing, these are all very important. So to do things properly, I think we spend a good period of time on getting to know local customs and needs."

Over the course of the last year, the organization has grown from 30 member companies to more than 70, showing Taiwanese businesses have a clear interest in African markets.