Envoy: We want to bring more Swiss products to Nigeria

Nicolet made the remark in Lagos at the celebration of the 726th
anniversary of the foundation of the Swiss Confederation. The Consul-General said that the celebration of the Swiss Day in Lagos, which was usually meant to be celebrated on Aug. 1, every year, was not a blunder.

“Today, we are celebrating the 726th anniversary of the foundation
of the Swiss Confederation. We are not making a plunder if we are not
celebrating the Swiss National Day on Aug. 1st.

“Let me say that we have been trying to strengthen our bilateral
relations with Nigeria, especially in the areas of Economy and Culture. “In the last two months, we are proud to see five new Swiss companies who took the decisions to open their branch offices here in Lagos, and this is a very positive sign.

“Let us hope that as soon as the economic recession ends in this
country, we will have a lot more of Swiss companies that will show big
interest in the Nigerian market,’’ he said.

The Consul-General, however, said that the current economic situation
was also the “right moment’’ for companies to come and invest in
Nigeria. Nicolet expressed optimism at the possibility for the improvement in
the current Nigerian economy.

He said that he was committed to attracting more Swiss companies to
come and invest, as well as do business in Nigeria. Nicolet also announced his home government’s plan in October, to organise “Nigerian Days’’ in the three linguistic regions of Switzerland, where Swiss companies would be exposed to investment opportunities in
Nigeria.

“The volume of the bilateral trade between Switzerland and Nigeria has
to be increased, and I am here with the goal of reaching this objective. “We believe that the bilateral trade between our two countries is quite still weak. I am convinced that we can bring more Swiss company products to Nigeria, as well as have more Nigerian products
go to Switzerland,’’ he said.

According to him, about 90 per cent of Switzerland’s importation from
Nigeria is crude oil. Nicolet added that to further promote bilateral relations between both
countries, a Swiss-Nigerian Business Council was founded last year.

He said that his government’s engagement with Nigeria was being guided
by the vision that Nigeria would be an example of a peaceful
multi-ethnic, multilingual and multi-religious country model, like
Switzerland.

After South Africa, Nigeria is Switzerland’s second-largest trading partner in sub-Saharan Africa. Nigeria exports mainly crude oil, while Swiss exports primarily comprise machines,
pharmaceuticals and other chemical products, as well as textiles.

Due to its oil imports, Switzerland has a very negative trade balance with Nigeria.
Some 60 to70 Swiss firms are active in Nigeria, mainly in the south of the country.
Swiss direct investments amount to about USD 300m, employing about 4,000 people.

An aviation agreement has been in force since 1980. In 2000, Switzerland and Nigeria concluded an agreement on the mutual protection and promotion of investments. In addition, since 1980s, the two countries have implemented several debt restructuring agreements in Nigeria’s favour. The Swiss financial centre has an interest not to become a safe haven for illicitly acquired assets.