Don't Miss

Nigeria, France to set up trade, investment council

By on September 18, 2013

The Federal Government on Monday began moves towards setting up the Franco-Nigeria Trade and Investment Council.

Both countries have also agreed to collaborate in order to develop their respective Small and Medium-scale Enterprises.

The FNIC, according to the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, will be driven by the private sector.

Aganga, who signed the agreement to set up the FNTIC, with the French Minister of Foreign Trade, Mrs. Nicole Bricq, said the council would identify areas of investment across all sectors of the economy and report the progress made on quarterly basis.

He said, “We have signed the agreement today for the setting up of the Franco-Nigerian Trade and Investment Council. This will be made up of the private sector that will be the key drivers, but sponsored by the two ministers, who will create the environment for them to thrive.

“We will identify opportunities and areas for investment across all sectors of the economy and then issue a report on a quarterly basis on the progress that has been made so that it will be action-oriented and result-oriented.”

The FNTIC, Aganga said, would work closely with the chambers of commerce and trade associations, which would be the key drivers of major decisions that would be reached.

Over the years, the minister noted that the trade relationship between the two countries had increased significantly.

He, however, stressed that both Nigeria and France were committed to creating the enabling environment for improved economic and trade ties.