Nigeria To Strengthen Economic Ties With Pakistan

Pakistan’s High Commissioner to Nigeria Major General (Rtd) Mohammad Ashraf Saleem has revealed that the Nigerian government is ready to establish a joint ventures with Pakistan in oil and gas, fertilizers and establishment of oil refinery.

The commissioner urged Pakistani businessmen to join hands with Nigeria to avail the opportunity presented as Nigeria wishes to establish Liquid Natural Gas and Fertilizer Plants with Pakistan.

While speaking with the Lahore Chamber of Commerce and Industry (LCCI) President Farooq Iftikhar on Wednesday, Saleem said Nigeria has a tremendous potential for low tech Pakistani products therefore Pakistani businessmen dealing in low tech products should capture this opportunity without any further delay.

Some of those present at the meeting include: LCCI Senior Vice President Irfan Iqbal Sheikh, Vice President Mian Abuzar Shad and Executive Committee Members Mian Zahid Javaid, Kh Shahzeb Akram, Mehmood Gahznvi, Shoaib Zahid Malik and Convener LCCI Committee on Pak-Africa business promotion Zafar Mehmood.

LCCI President Farooq Iftikhar, expressed willingness as he stated that the Pakistan’s business community also wanted to enhance bilateral trade relations with Nigeria; adding that the size and potential of the two countries should be fully exploited so as to translate it into economic terms.

He however lamented that the decline in export activities of goods from Pakistan to Nigeria. Iftikhar urged that business community in the two countries need to find reasons of this trend and also take measures to turn around the situation.

According to him, there is need to identify more tradable products to facilitate trade ties between Nigeria and Pakistan. Some of the laudable goods he identified for exports are: rice, electrical appliances, auto-parts, textile products, sports goods, surgical instruments, rice, carpets, footwear and so many other consumable items that Pakistan is well-known for. Some of the goods currently imported from Pakistan to Nigeria include medicament mixtures, cotton fabrics, woven fabric of synthetic fiber, tractors, garments, and electro-medical apparatus.

While noting that frequent exchange of trade delegations and continuous liaison can be an instrumental tool in strengthening trade and investment relations between both countries, the LCCI president suggested that a Market research should be conducted regarding the range of products and priority may be given to each other for import of products.