Nigeria decries low trade level with Egypt

Nigeria on Monday decried her low level of trade with Egypt, two economic powers on the African continent.

Nigeria’s ambassador to the northern African country, Malam Nura Rimi, noted that statistics showed that notwithstanding the sizes of the two economies, volume of trade between them was low.

He spoke at the maiden edition of the Nigeria-Egypt Trade Conference and Exhibition (NETCE) in Cairo.

He described the level of economic activities between the two countries as generally unimpressive.

Rimi said with the abundance of natural resources and a youthful population, that is enterprising and innovative, there is no limit to what could be achieved through robust engagement by the two sides.

He called on Egyptian investors to take advantage of the favourable business environment in Nigeria to invest in Africa’s largest economy.

“Any investor looking for a place to invest, build, thrive, innovate and succeed has no better place on earth to go than Nigeria,’’ he stressed.

“It is heart-warming to note that under a Public Private Partnership arrangement, Nigeria recently opened the First Export Trade House in Egypt.

“It is to serve as a central location for made-in-Nigeria products to be shipped, displayed and distributed to the rest of the world,’’ he stated.

The envoy called on participants at the conference to explore more trading opportunities and businesses to enhance economic ties, increase the flow of investments and generate more wealth for the peoples of both countries.

Rimi noted also that Nigeria and Egypt enjoyed warm and cordial relations with strong cooperation in the areas of education, defence and security matters.

“The two countries also collaborate in regional and global affairs in the quest to promote international peace and security,’’ he said.