Nigeria is planning to double its trade volume with Brazil from the current $9bn (N1.422tn) to $18bn (N2.844tn) by 2015.
Nigeria’s Minister of Trade and Investment, Olusegun Aganga, disclosed over the weekend in Abuja at a Nigeria-Brazil trade forum that both countries had agreed to strengthen trade and investment ties by leveraging areas where they had competitive and comparative advantage.
“The volume of trade has increased significantly over the years. Today, it is $9billion and we can do much more. We are working on how we can double that by 2015.”
Brazil is our number three trading partner in terms of crude oil exports after the United States of America and India. So, the country is very important to our economy, knowing that crude oil sale is 90 per cent of our export.
In terms of imports from Brazil, most of our rice, sugar and automobiles come from Brazil and we are working to improve upon what we have at the moment.”
“So, Nigeria has had a good trading relationship with Brazil for a very long time now. The Brazilian Minister of State, Ministry of Development, Industry and its Foreign Trade, Mr. Fernado Pimentel, and I will work together to double the trade volume between Nigeria and Brazil by 2015,” he said.
Aganga said both countries had also agreed to put in place mechanism that would accelerate trade development between them.
He said the Federal Government had opened discussions with Brazil to have a direct flight from Nigeria to Brazil, adding that when approved, the move would help to facilitate trade.
As part of the mechanism to be put in place to facilitate trade ties, the Minister said a direct flight from Nigeria to Brazil will soon be launched.
“We will have a direct flight from Nigeria to Brazil. Today, a flight that should take six hours is taking us 24 hours. That is not good for business; it is not good for investment. We have a trade commission in place that will accelerate that process as quickly as possible,” the minister said.
0 comments:
Post a Comment