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Nigeria, Turkey trade volume hits $2.5billion

By on October 16, 2015

Turkish Ambassador to Nigeria, Hakan Cakil, has said trade volume between both countries has now reached $2.5 billion.

The Turkish envoy stated this at a forum organised by the Abuja Chamber of Commerce and Industry (ABUCCIMA) for the visiting Turkish business delegation to Nigeria.

Cakil said: “We have strong relationship with Nigeria, we have economic ties in commercial field. We shall do our best to enhance the business opportunity in Nigeria. We are looking at the different sector of the economy for investment. The area include energy, agric construction and others. We have to let the businessmen meet to interact and share ideas .

“We have to find business opportunities in two countries. Total trade volume between the two countries as at December 2014 was 2.5 billion dollar; the bilateral trade relationship is in favour of Nigeria because we are importing crude oil and other mining products.”

He further stated that though there are figures yet for 2015, “Nigeria is the leading or number one business partner of Turkey in the sub Sahara African.”

“Nigeria has created business environment that encourages Turkey business to grow in the counntry. It is one of the most important encouragement too Turkey,” Cakil said.

The Permanent Secretary, Ministry of Federal Capital Territory (FCT), Mr. John Chukwu, acknowledged the imbalance in trade between Nigeria and Turkey, stating that, efforts are in top gear to increase Nigeria’s export to Turkey.

“He explained that this, can only feasible  by “encouraging adoption of the comparative advantage and technical-know-how principles in showcasing economic strength and identification of areas of collaboration for improved trade relationship.”

Speaking earlier, ABUCCIMA President, Tony Ejinkeonye said the visit of the Turkish business delegation to Nigeria showed the confidence on the country’s business and investment environment.

Ejinkeonye stressed that the delegation should explore the vast business opportunities in Nigeria,  adding that, “Nigeria is not only a place to buy and sell but to establish partnership for the overall interest of the countries.”

Leader of the Turkish business delegation, Ahmet Koparan expressed his team optimism in investing in Nigeria, stating that, with the enormous economic potentials, Nigeria has, the aim is to engage in trade that benefits the two countries.

Koparan further observed that the interest of the delegation cut across a broad spectrum of the economy, including energy, afro business, construction and infrastructure

 

[ThisDay]