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Nigeria, Mexico to increase trade, investment

By on December 17, 2014

The Federal Government, in a bid to improve bilateral relations with Mexico, has inaugurated the Nigeria/Mexico Chamber of Commerce and Industry.

The move, according to the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, will help to increase the level of trade between both countries as well as open investment opportunities for investors.

The minister, who was represented at the inauguration of the chamber in Abuja on Monday by the Executive Director, Nigeria Export Promotion Council, Mr. Olusegun Awolowo, said the strengthening of the bilateral tie was coming at a time when the Federal Government was working assiduously to deepen trade, create employment and improve the welfare of the people.

He said it would also make both countries diversify their economies away from oil and tap into the opportunities in sectors such as manufacturing, agriculture and the automotive industry.

“We are impressed with what Mexico has done in terms of diversifying its economy away from oil and we want to replicate such achievements here in Nigeria. We want to stop exporting raw materials and to start producing what we need in this country and this is what the industrial revolution plan is meant to achieve,” Aganga said.

Also speaking at the event, the Mexican Ambassador to Nigeria, Marco Antonio Blanco, said the inauguration of the chamber marked a milestone in expanding and strengthening the economic ties between both countries.

The partnership, according to him, will also allow the effective identification of business opportunities, investments, joint ventures and specific strategic alliances to boost and diversify bilateral trade.

The Founding President of the chamber, Mr. Bayo Adeyemo, while outlining some of the benefits of the alliance to both countries, said it would help increase business network, open up new markets, provide access to current business information and facilitate participation at international trade fairs and trade missions.

He said, “The chamber of commerce and industry we are launching is open to investors, entrepreneurs, businesses and corporations.

 

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