ESE signs MoUs with Taiwan Stock Exchange and Taiwan Carbon Solution Exchange

The Eswatini Stock Exchange (ESE) signed two separate memorandum of understanding (MoU) with the Taiwan Stock Exchange (TWSE) and the Taiwan Carbon Solution Exchange (TCX) on March 4, 2024.

The Kingdom of Eswatini is one of Taiwan’s diplomatic allies, making the MoU signing a response to Taiwan’s foreign policy efforts and a significant milestone for the cooperation between Taiwan and Eswatini capital markets.

The MoU ceremony signees were the ESE CEO, Ncamiso Ntshalintshali, TWSE President, Lih-Chung Chien and TCX CEO, Joshua Tien, and Financial Supervisory Commission Vice Chairperson, Tsuey-Ling Hsiao, Governor of Central Bank of Eswatini, Dr. Phil Mnisi and H.E. Ambassador Promise S. Msibi were invited as witnesses. Considering geopolitical relations and abundant natural resources, the Kingdom of Eswatini is eager to diversify its financial product offerings and develop the carbon credit business. Therefore, the MoU focuses on exploring mutually beneficial technology exchange and business experience sharing, aiming to advance the relationship between Taiwan and Eswatini capital markets.

Tsuey-Ling Hsiao, Vice Chairperson of the FSC, congratulated the two capital markets for reaching a milestone in their cooperative relationship. She said that upgrading capital market infrastructure and ESG is an important trend in the recent market, and she encourages the market operators to strengthen their cooperation in the international market.

Ncamiso Ntshalintshali, CEO of the ESE, expressed his gratitude that the ESE stands to gain a lot in terms of human capital capacitation and market infrastructure technology from the TWSE as one of the top stock exchanges in the world, while also responding to climate change and climate finance through the establishment of the Eswatini Carbon Exchange with experience from the TCX.

Stressing the importance of the collaboration, Dr. Phil Mnisi, Central Bank of Eswatini Governor, stated that the MoU signifies the beginning of a new chapter of bilateral cooperation between Eswatini and Taiwan in the shared challenge of climate change adaptation and mitigation.

“We look forward to the future trading of carbon credits between Eswatini and Taiwanese entities,” he said.

Lih-Chung Chien, President of the TWSE, stated that the MoU brings multiple benefits. First, it is a positive response to the government’s “Africa Plan” and aligns with President Tsai’s expectations of enhancing Taiwan-Africa relations. Second, it marks the first cooperation between Taiwan and its diplomatic ally in the field of capital markets, bearing significant symbolic meaning. Last but not least, the collaboration facilitates Taiwan to share experiences with the world and strengthen Taiwan’s international influence.

Tien, CEO of the TCX, mentioned that the TCX and ESE MoU established a long-term cooperation mechanism for the carbon credit business between Taiwan and Eswatini, fostering communication channels and expanding ongoing relationships. Both parties will first exchange carbon credit-related information and further expand the cooperation to areas such as talent training and core business experience sharing in the future.

The signing ceremony concluded successfully, and it is believed that the collaboration between the ESE, TWSE, and TCX will not only bring more opportunities and challenges but also begin a new chapter in the collaboration between Taiwan and the Kingdom of Eswatini.

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