Sao Tome and Principe chamber of commerce to sign agreement with Taiwan cooperation association

26 April 2011

Sao Tome, Sao Tome and Principe, 26 April – The Taiwan International Economic Cooperation Association is due Tuesday in Sao Tome to sign a cooperation agreement with the Sao Tome and Principe Chamber of Commerce, Agriculture and Services (CCIAS) to make Taiwanese investment in the archipelago easier, the president of CCIAS said Monday.

Abílio Afonso Henrique said that the agreement essentially aimed to, “open up business opportunities,” in several areas of Sao Tome and Principe through “commercial and financial partnerships,” between economic operators from both countries.

He also said that signing the agreement followed activities carried out just less than two months ago by the Sao Tome government as part of its cooperation with Taiwan with a view to investing in several areas of the Sao Tome economy, notably agriculture, tourism, textiles, banking and trade in general.

The chairman of the Taiwan International Cooperation Association, Mike Hung, is in Sao Tome heading a delegation of 14 businesspeople, which Was received by Sao Tome’s prime minister, Patrice Trovoada and by the Minister for Planning and Development, Agostinho Fernandes.

Before leaving Sao Tome on Friday the Taiwanese delegation is due to visit several business facilities in the country, namely a former textile factory in the capital.

Since diplomatic relations were established in May 1997, it is estimated that Taiwan has invested around US$150 million in the Sao Tome and Principe archipelago. (macauhub)