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By toyboy07 • 15th Mar 2019 • 43 views • 6 comments

Nigeria and India are working on ways to enhance the $12 billion yearly

bilateral trade between both countries in a way that would focus on

investment.

Receiving the Indian High Commissioner to Nigeria, Shri Abhav Thakur,

in his office, Minister of Industry, Trade and Investment, Dr.

Okechukwu Enelamah in a statement, lauded the relationship between

Nigeria and India but said it has become necessary to expand it

beyond trade for increased investment.

Recalling the fundamental co-operation between both countries and

their common heritage in the Commonwealth of Nations, he said

Nigeria is restructuring her economy and bilateral relationships should

reflect same.

The Minister welcomed the envoy's interest in Project Mine, a new

initiative by Nigeria to develop world-class special economic zones to

position Nigeria as the pre-eminent manufacturing hub in sub-Saharan

Africa, and a major exporter of made in Nigeria goods and services

regionally and globally.

The Federal Government had last month, signed investment

agreements with three Development Finance Institutions; Afreximbank,

Bank of Industry and the Nigeria Sovereign Investment Authority

(NSIA) for the project.

Thakur, who expressed interest in the project, requested a formal

briefing to enable him sell the opportunities to Indian investors.

The High Commissioner, who is new in the country, congratulated the

Minister for the electoral victory of President Muhammadu Buhari and

his government.

He stated that Nigeria and India are important trade partners and

expressed the need to grow the partnership.

He said his country was looking forward to the Joint Trade Committee

meeting holding in India in April. India and Nigeria, in 2017, agreed to

establish the Committee at the level of Commerce Secretary from

Indian side and Permanent Secretary from Nigerian to review the

ongoing bilateral trade and commercial relations.

The Minister assured him of Nigeria's attendance of the meeting and

promised the envoy that he will enjoy his stay.

"We are glad to have you in Nigeria. We are very hospital people and

we believe you will enjoy your stay," Enelamah said.

9 Replies | Last update 15th Mar 2019 | Last comment

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