Your Majesty King Mswati III; Your Royal Highness Inkhosikati LaDube; the Distinguished Delegation from the Kingdom of Swaziland; Mr. Huang, Vice Chairman of the Chinese International Economic Cooperation Association; Business Leaders; Ladies and Gentlemen:
Good Afternoon!
On behalf of the government and 23 million people of the Republic of China (Taiwan), I would like to once again extend our warmest welcome to Your Majesty and the distinguished delegation from the Kingdom of Swaziland.
Taiwan greatly cherishes its long-standing, stable, and cordial relationship with the Kingdom of Swaziland. To promote investment in and trade with Swaziland in a concrete way, Taiwan and Swaziland signed a Protocol on Technical Cooperation in 1997 and an Agreement on the Avoidance of Double Taxation and the Prevention of Income Tax Evasion in 1998. These agreements have helped to lay a solid foundation for economic cooperation and trade between our two countries.
In addition, the United States' decision to grant quota-free and zero-tariff treatment for most goods originating from Swaziland has made Swaziland one of the best foreign countries for Taiwan's companies to set up overseas production lines in order to increase their presence in the US market.
Under the favorable conditions created by the United States' African Growth and Opportunity Act, 22 of Taiwan's companies have set up factories, made investments of more than 60 million US dollars, and created over 14,000 jobs in Swaziland since 2000. This investment by Taiwan's companies has been of great benefit to the substantive relationship between our two nations. Later on during this investment promotion luncheon, Chairman Lin of the TaxRay Group will share his experience of investing in Swaziland with you.
Swaziland is rich in natural resources such as coal, iron ore, and asbestos. To encourage local companies to invest in Taiwan's diplomatic allies, the government has drawn up the Regulations Governing Subsidies for Encouraging Business Entrepreneurs to Invest in Countries Having Diplomatic Relations with the Republic of China (Taiwan), under which the government funds items such as field studies, salaries, equipment rentals, and interest payments for companies that engage in such investment.
What's more, the International Cooperation and Development Fund, the Overseas Chinese Credit Guarantee Fund, and the Export-Import Bank of the Republic of China also offer various guaranteed overseas investment loans and financing services to Taiwan's companies to help reduce the risks and costs associated with investing abroad.
In recent years, Swaziland has been promoting projects designed to attract foreign investment. In a short while, Swaziland's Minister for Enterprise and Employment, Mr. Lutfo Dlamini, will present an overview of Swaziland's economic situation and give a briefing on investment opportunities in the kingdom. I am confident that Minister Dlamini's presentation will help business leaders here today learn more about business opportunities in Swaziland.
Swaziland, which established diplomatic relations with Taiwan since its independence 38 years ago, has long enjoyed cordial relations with us and is a beautiful country and home to friendly and hospitable people. Both countries look forward to a closer relationship with the other, and I firmly believe that the joint efforts made by the people of our two nations will greatly enhance our substantive relationship.
I visited all of our diplomatic allies in Africa twice, once in 2000 and again in 2002. Arriving in Swaziland, which has long enjoyed a reputation as the "Switzerland of Africa," the first thing that struck me was that Swaziland, like Taiwan, has highways. Having built such an infrastructure is an achievement that all Swazis should be proud of.
As you know, Swaziland is partly surrounded by South Africa, which I have visited twice, the first time as a legislator and the second as the mayor of Taipei. Unfortunately, during both visits to that nation, I was robbed. It was on my third trip to southern Africa that I visited Swaziland in my capacity as president. I thought, at the time, that this string of bad luck might be behind me. However, a group of businesspeople from Taiwan that traveled from South Africa by bus to see me and to join the annual conference of Taiwan's Chambers of Commerce in Africa was robbed even before it reached South Africa's border with Swaziland. But I can assure you that this group of businesspeople were safe after they arrived at Swaziland, where social order has been well-maintained.
The point that I want to make is that social order has been well-maintained in Swaziland. I did not mean to criticize any nations.
I am most pleased to speak on behalf of Swaziland, and I anticipate that the close and cooperative relationship between Taiwan and Swaziland will reach new heights because of our joint efforts. In closing, I would like to wish Your Majesty, Your Royal Highness, the distinguished Swazi delegation, and all our honored guests health, happiness, and success. Thank you!