Nigeria partners Turkey on Bilateral Trade

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FEDERAL Government has entered into an economic partnership with Turkish government to raise the current trade volume of both countries, which currently stand at $2.3 billion, through investments drive.

The Minister of Industry, Trade and Investment Okechukwu Enelamah, during visit by Turkish team pointed out that by the bilateral agreement, Nigeria was expected to expand investment its drive with the “key economic partner with Turkish government.

“The relationship between Turkey and Nigeria is an opportunity we won’t waste. Our trade volume currently stands at $2.3 billion. We have already advanced our discussions with them, at the diplomatic level. Currently, government is facilitating discussion with up to 150 Turkish Business men and key representatives of the private sector in Nigeria to explore more areas of investments.

“We are open for Business and we must find multiple ways of collaborating with Turkey. Every obstacle in this partnership, we must address using all the machinery while carrying the private sector along. We are looking forward to investment that would diversify our economy in key areas of agriculture, solid minerals, and defence industries,” Enelemah said.

The Foreign Economic Relations Board of Turkey President, Omer CihadVardan, in his stated that “Nigeria is sharing a similar vision with the Turkey, for instance, just as you want to become the largest economy by 20:20, likewise by 2023, we want to be among the first 10 economies in the world, that is why we are exploring all the advantages of strong economic partnership among both countries.”

He hailed Nigeria’s strategic position, noting that “Nigeria takes an appreciable figure in the total trade volume of $5 billion in Africa,” while insisting Turkey plans investment into Nigeria’s construction, infrastructure and Social development and industrial sectors, which he said has the capacity to deepen both country’s economy.

“We looked toward strategic partnerships and cooperation in health sector, aviation and Air Transport.

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“Nigeria’s I70 million populace and Turkey’s 80 million are an advantage to us. Nigeria is strategic in Africa, and we must keep improving relationships of both countries and preparing ground for the business and chamber of commerce of both countries to deepen such relationships.

In the same vein, the National President of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), BasseyEdem, charged for the balance of the trade between both countries.

The NACCIMA helmsman who pointed out that Turkey has more comparative advantage in the trade relations, urged the Turkish government to focus on technology transfer by investing in specific sectors of the Nigerian economy, and aimed at economic diversification.

He also stressed “Nigeria plays an important role in Turkey’s African Initiative.

According to UN Population Projections, Nigeria is expected to be 3rd most populated country around the world by 2050. Therefore as Turkish business community we are so much interested with Nigeria.

“As the Turkish business community, we also support Nigeria’s goal of becoming one of Top-20 Countries by 2020. We believe that Turkey has an important role to play for Nigeria to realize this goal.”

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