Business

MBABANE – Exports to Taiwan markets from Eswatini have surged by 78 per cent since the signing of the Economic Cooperation Agreement (ECA) in 2018.

These figures provide evidence that the kingdom’s preferential trade arrangements with one of its closest diplomatic partners continues to translate into stronger commercial ties.

The significant increase was revealed by Taiwan’s Minister of Economic Affairs, Ming-Hsin Kung, during bilateral engagements with Eswatini’s Minister for Commerce, Industry and Trade, Manqoba Khumalo, who was leading the country’s delegation to the Republic of China (Taiwan).

Khumalo held a series of high-level meetings with government ministries, multinational companies and development institutions following his participation in celebrations marking the 30^th Anniversary of the International Cooperation and Development Fund (ICDF), held from June 30 to July 2.

Beyond celebrating three decades of development cooperation, the visit placed considerable emphasis on expanding trade, attracting investment, accelerating industrialisation and strengthening digital economic cooperation between the two longstanding partners.

The increase in imports also represents one of the clearest indicators yet that the 2018 Economic Cooperation Agreement is delivering measurable commercial benefits for Eswatini exporters.

Eswatini’s Economic Cooperation Agreement with Taiwan was signed in 2018 to deepen bilateral trade and investment by removing tariffs on a broad range of products while creating a more favourable environment for businesses in both countries.

The agreement eliminates tariffs on numerous goods, including textiles, sugar cane molasses, nuts and beverages, while also encouraging mutual investment, industrial collaboration and digital commerce.

Since its implementation, Taiwanese demand for Eswatini products has steadily expanded.

According to Minister Kung, the country’s principal imports from Eswatini now include sugar, beef and locally produced handicrafts.

He attributed the impressive 78 per cent growth in imports to the expanding commercial relationship established under the agreement.

Kung further highlighted another milestone in bilateral cooperation through the signing of a memorandum of understanding aimed at developing the Buy Eswatini digital platform.

The platform is expected to strengthen market access for local enterprises by improving the visibility of Eswatini products within Taiwan while supporting digital trade between businesses in both countries.

The initiative also aligns with broader efforts by Eswatini to modernise trade promotion through digital technologies and e-commerce.

While stronger exports formed a key highlight of the visit, Khumalo also used the engagements to aggressively market Eswatini as an attractive destination for foreign direct investment.

Throughout the bilateral meetings, he presented numerous investment opportunities available in the kingdom while reaffirming the close diplomatic and economic partnership between Eswatini and Taiwan.

The minister consistently positioned Eswatini as a strategic investment destination capable of supporting manufacturing, renewable energy, pharmaceuticals, agro-processing and technology-driven industries.

His presentations were aligned with the joint statement adopted during the ICDF celebrations titled ‘Investing in Resilience and Prosperity: Digital Innovation for a Sustainable Future.’

The statement commits participating countries to strengthening cooperation through digital innovation, sustainable development and resilient economic growth.

Industrial Innovation Park takes shape

MBABANE – The delegation also received an update from Jia Bang Smart Investment regarding the development of the Taiwan Industrial Innovation Park (TIIP).

The company outlined ambitious infrastructure development plans that include establishing an essential oils manufacturing company, a bio-pharmaceutical project and a solar energy storage initiative.

The renewable energy component will be implemented together with Blue Energy Company, which specialises in sustainable energy technologies.

Should the projects proceed successfully, they could contribute significantly towards Eswatini’s industrial diversification strategy while strengthening renewable energy capacity.

The developments also complement the country’s broader ambitions to establish value-added manufacturing industries capable of serving both regional and international markets.

Another important meeting was held with Green Harvest Company.

Company representatives presented their expertise in renewable energy technologies, smart electricity grids and energy storage systems.

Their solutions were identified as being closely aligned with Eswatini’s long-term objectives of improving energy resilience while supporting sustainable economic development.

Reliable and affordable energy remains a critical requirement for industrial expansion, making renewable energy investment an increasingly important component of Eswatini’s economic transformation agenda.

The discussions therefore explored potential areas of collaboration that could assist the kingdom in strengthening energy security while reducing dependence on conventional energy sources.

Furthermore, during the meeting with Minister Kung, discussions extended beyond trade statistics to the broader economic partnership between Eswatini and Taiwan.

The two ministers reviewed ongoing cooperation under the Economic Cooperation Agreement while identifying new opportunities to deepen bilateral investment.

They also discussed digital commerce initiatives aimed at expanding market opportunities for Eswatini businesses through the Buy Eswatini digital platform.

The platform is expected to improve international market access for local producers while increasing the global visibility of Eswatini-made products.

The discussions reinforced the shared commitment of both governments to expanding trade, investment and technological cooperation.

Women empowerment remains priority

MBABANE – During the opening interview session of the ICDF celebrations, Minister Manqoba Khumalo also highlighted Eswatini’s programmes aimed at empowering women entrepreneurs.

He showcased the Women Micro Finance Revolving Fund, implemented through Kuyenteka Savings and Credit Co-operative.

The initiative provides affordable financing to women entrepreneurs while supporting business expansion and employment creation.

Complementing the financing programme is the Khutsalamfati capacity-building initiative, which equips women with entrepreneurial skills necessary to build sustainable businesses.

The minister explained that together, these programmes are improving women’s access to finance, supporting enterprise development and contributing to inclusive economic growth.

He further reaffirmed the importance of the longstanding partnership between Eswatini and Taiwan in advancing women empowerment, enterprise development and sustainable national prosperity.

Taken together, Minister Khumalo’s engagements reflected a broader strategy of positioning Eswatini as a competitive destination for investment while simultaneously expanding export markets for local products.

The growing demand for Eswatini sugar, beef and handicrafts under the Economic Cooperation Agreement illustrates the commercial opportunities created through preferential trade arrangements.

At the same time, discussions with technology companies, renewable energy developers, organic agriculture businesses and industrial investors signal expanding possibilities beyond traditional sectors.

For Eswatini, attracting investment into manufacturing, renewable energy, pharmaceuticals and digital commerce could support economic diversification, create higher-skilled employment and strengthen resilience against global economic shocks.

The visit also demonstrated that the country’s diplomatic relationship with Taiwan continues evolving beyond development cooperation towards a broader partnership centred on trade, investment, innovation and sustainable industrial development.

... manufacturing opportunities for YAGEO

MBABANE – One of the major corporate engagements involved YAGEO Corporation, one of Taiwan’s internationally recognised electronics manufacturers.

Chief Executive Officer David Wang outlined the company’s extensive portfolio of advanced electronic components used across global manufacturing industries.

Its products include LAN magnetics, resistors, inductors, temperature sensors and limit switches that serve diverse sectors ranging from consumer electronics to industrial manufacturing.

The discussions exposed Eswatini officials to potential opportunities for advanced manufacturing partnerships as the country seeks to diversify beyond traditional industries.

The meeting also formed part of wider efforts to position Eswatini as a potential investment location for higher-value manufacturing activities capable of generating skilled employment.

Khumalo also met with Leezen Company, a Taiwanese business renowned for promoting organic farming and environmentally sustainable products.

Company President Glendy Lee explained that Leezen specialises in supporting organic agricultural production while advancing environmentally responsible business practices.

Among its sustainability initiatives is the use of 100 per cent biodegradable shopping bags.

Importantly for Eswatini, the company continues importing locally produced handicrafts for sale within Taiwan, providing valuable market access for local artisans and small businesses.

Minister for Commerce, Industry and Trade Manqoba Khumalo (3rd L), accompanied by Director of MSMEs Mluleki Dlamini (2nd L) attended the 30th Anniversary of the International Cooperation and Development Fund (ICDF) in the Republic of China (Taiwan), which took place from June 30 to July 2, 2026. (Courtesy pic)