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AfricaMoney | November 9, 2016

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Nigeria to strengthen trade ties with Canada

Nigeria to strengthen trade ties with Canada

Nigeria is prepared improve on its economic relations with Canada in areas of power generation, petrol chemicals, mining, aviation, agriculture, health, education and film production as the nation’s Vice President, Namadi Sambo, prepares to lead a Federal Government delegation to Ontario. Canada is one of Nigeria’s largest trading partners. Current partnerships with the North American country includes trade in crude oil export, raw materials and jobs exportation.

Early this year, Canada and Nigeria had agreed to partner and explore various areas that would boost their trade volume to $6 billion ($38 million).

“We have had a lot interests from the Canadian government and private sector. We have also had about 60 to 70 Nigerian companies who have shown interest in the forum. We have a number of state governments which are willing to participate. So, everything is moving on in the right direction,” Nigeria’s Minister of Trade and Investment, Olusegun Aganga, said after a meeting of the Nigerian-Canada Bi-national Commission  on Tuesday.

According to Aganga, “There are three things happening between Nigeria and Canada. One is the bi-national commission between the two countries, which is going to hold and which is going to be chaired at the vice president level with the ministers who will look at it and implement it. The second big thing happening between Nigeria and Canada is the investment forum which is going to take place between 2nd and 4th of May, 2013. The preparation and the business relationship between the two countries are going on extremely well.”

Aganga said the recent development signifies a shift in economic relations between both nations as Nigeria now wants “to do better trade and stay at a favorable position in the value chain.”

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Source: Ventures Africa

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