President Jacob Zuma of South Africa has announced the signing of 30 bilateral trade deals between his country and Nigeria.
The South African President who was on a 2-day official visit to Nigeria disclosed this yesterday while meeting with President Muhammadu Buhari at Aso rock, Abuja.
While reiterating the needs for both countries to improve business ties because of their economic roles in Africa, Zuma said his visit was to ensure that both countries expand their relationship beyond trade.
Zuma added that South Africa sees a potential in bilateral investments in the tourism sectors of both countries
“Prior to 1999, there were only four South African companies [operating] in Nigeria,” Zuma said. “Since 1999, the situation has changed dramatically. Over 120 companies are currently doing business in Nigeria.”
Nigeria’s President Muhammadu Buhari said he his keen on working with South Africa on security, economy and corruption. “We identified how we can rapidly improve our relations with South Africa in terms of the economy,” Buhari said.
“We identified agriculture and solid minerals to come to the fore quickly, so that we can employ the able bodied, unemployed included. South Africa here is far ahead of us in both agriculture and solid minerals. In diversifying the economy, I think there is a good room for improvements and it is going to be exploited,” Buhari said.
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