Strengthening relations: Nigerian envoy wants enhanced bilateral trade volume

ICCI official says exporters of both countries need to focus on diversification

ISLAMABAD: Pakistan and Nigeria have many mutual areas that can be leveraged to promote bilateral trade and economic relations between the two countries, said Ambassador of Nigeria Ashimiyu Adebayo Olaniyi.

Addressing the business community at the Islamabad Chamber of Commerce and Industry (ICCI), he said that despite having excellent cooperation with Pakistan in the defence field, bilateral trade was not encouraging.

Both countries have big consumer markets and huge potential to cooperate with each other in a variety of fields, including agriculture, minerals, pharmaceuticals, oil and gas, energy and others, the envoy added.

The ambassador was of the view that Pakistan and Nigeria should develop strong cooperation between their small and medium enterprises (SMEs), which would help improve two-way trade.

He said that Nigeria has made the same liberal investment policy for investors as Pakistan and urged the businessmen to explore the former for investment opportunities.

Also speaking on the occasion, ICCI President Sheikh Ahmed Waheed said that Pakistan and Nigeria were trading in a limited range of items and urged both countries to focus on diversification to achieve better results.

“Both countries have potential to get better access to bigger markets by enhancing cooperation as Nigeria is a gateway for Africa and Pakistan is a gateway for South Asia.”

Published in The Express Tribune, December 9^th, 2017.

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