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Gambia signs economic pact with Taiwan
Thursday, 17 June 2010 00:27
The Gambian Ministry of Economic Planning Wednesday announced it had signed a new economic agreement with
Taiwan, arguably its closest ally on the Asian continent. Gambia reestablished ties with Taiwan in 1995 after severing relations with China, Taiwan’s belligerent neighbor.
A statement issued by the Ministry of Economic Planning and Industrial Development said the agreement, amongst other things, seeks to "intensify economic cooperation for the mutual benefit” of both countries."
"The agreement will further create a conducive environment and stimulate business initiatives of investors and will create prosperity in both states," the statement said.
This announcement comes a week after a Ministerial delegation headed by the Gambian Minister of Economic Planning and Industrial Development, Yusupha Kah, returned from a five day visit to the Asian nation. An official statement by the Taiwanese Foreign Affairs Ministry said then that the visiting Gambian officials were scheduled to sign an “Agreement between the Republic of China (Taiwan) and the Republic of The Gambia on the Promotion and Reciprocal Protection of Investment.”
Apart from occasional donations of huge sums of money to Gambia, Taiwan’s contribution to the country’s development effort is highly notable in terms of technical supports in the areas of agriculture, infrastructural development, education, public health, etc.
In return, Gambia remains a highly vocal partner in Taiwan’s relentless effort to gain greater international recognition in the face of China’s ever growing resistance.
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