Nigeria to improve trade volume with Czech Republic- Dr. Ortom

[The InfoStrides]

The Minister of State for Industry, Trade and Investment, Dr. Samuel Ortom has said that Nigeria will ensure improvement in trade volume with Czech Republic from the current $100 Million to $1Billion.

 

The Minister made the remarks when he received Czech Republic official delegation led by its Deputy Minister of Foreign Affairs, Mr. Thomas Dub in his office in Abuja.

 

While receiving the delegation, the Minister pointed out that the volume of trade between Nigeria and Czech Republic grew in excess of $100 Million at the end of 2012 which represent 50 percent increase over 2011.  "The balance of trade is against Nigeria and we are willing to improve the trade volume on the basis of win-win situation in the trade relations between both countries.  We need collaboration in non oil products like solid minerals, agricultural products and agro processing."

 

Dr. Ortom pointed out that the present administration has continued to reform Nigeria's business environment to attract both local and foreign investors adding that the primary role of the Ministry was to remove all bottle necks that can hinder investment in the country.  "We are committed to attracting investment into the country and several incentives have been put in place to attract investments, like the 100% repatriation of profit, Doing Business and Competitive Committee and Investor-Care Committee."

 

He urged investors from Czech Republic to invest in Nigeria and take advantage of the large market and population as well as the regional market in West Africa.  We have free trade zones in Nigeria where investors can produce for Nigeria and regional Market.  "It is important to have trade mission and trade fair that will involve private sector to exchange ideas and matchmaking that will crystallize to trade and investment for both countries."

 

Dr. Ortom noted that Nigeria can take advantage of Czech's technology to advance food processing industry that will generate more employment opportunities for Nigerians.

 

Earlier, Czech's Deputy Minister of Foreign Affairs, Mr. Thomas Dub had pointed out that they were in country to strengthen bilateral relations with Nigeria and wants to explore the possibility of doing business with Nigeria.

 

He said, they were focusing on both entrepreneurial relationship and skills' development that will enable Nigeria to benefit from cheap technology of the Czech Republic and urged both countries to support Czech–Nigeria Business Association for rapid economic development.

Federal Republic Of Nigeria | nigeria.gov.ng