Skip to main content

Nigeria, Morocco set to deepen bilateral trade

High cost of goods in the market

High cost of goods in the market

Nigeria and Kingdom of Morocco are set to improve bilateral trade relations to boost intra-Africa trade volume.

Mr Laoye Jaiyeola, Chief Executive Officer, Nigerian Economic Summit Group (NESG), said on Thursday that public and private sectors of both countries would collaborate to leverage on opportunities for sustainable economic growth.

He said this in Lagos during a Nigeria – Morocco Business Meeting on the theme: “Business Climate and Investment Opportunities”.

According to Jaiyeola, improved business relations between both countries will create mutual benefits, connect the continent’s markets and enhance competitiveness.

Mr Muda Yusuf, Director-General, Lagos Chamber of Commerce and Industry (LCCI), said that improved trade relations would boost regional integration between both countries.

He noted that the strategic partnership between both countries would unlock several trade and investment opportunities in the West African region.

Ms. Yewande Sadiku, Executive Secretary, Nigerian Investment Promotion Commission (NIPC), said that, in spite of the present economic challenges, Nigeria remained the most profitable economy in Africa.

She said that business-friendly policies, increasing urbanisation, large young workforce, growing consumer spending, and vibrant private sector were creating investment opportunities in the country.

According to her, investment opportunities abound in the manufacturing, infrastructure, agriculture, solid minerals, information and communication technology, tourism and hospitality and oil & gas sectors.

She said that the government was working assiduously to create enabling environment for businesses to thrive.

Mrs Miriem Bensalah-Chaqroun, Chairman, Confederation Generale des Entreprises du Maroc (CGEM), said that Morocco was interested in partnering with Nigeria to establish a strong foothold in West Africa.

According to her, both countries have interest in agriculture.
She noted that agriculture accounted for about 14 per cent of Morocco’s GDP and employed about 40 per cent of its working population.

She said that the country’s tourism sector was well developed, ranked as first tourist destination in Africa, second job creator and foreign exchange earner.

According to her, the synergy will position Nigeria to benefit from Morocco’s renewable energy and industrial acceleration plan for socio-economic development.

“The bilateral trade between Nigeria and Morocco is too low; we need to enhance the trade relations between both countries.

“We have strong will to partner with Nigeria as a strong economy in Africa despite its economic recession ; it has the market and a large youth population.

“As Africans, we should trust each other, try to create proper mechanism to deepen intra Africa trade and remove structural barriers to trade and Investment.”

SGe said that the partnership would be the beginning of a great future for both countries.

Labels:

Comments

Post a Comment

Popular posts from this blog

Court grants Fani-Kayode N50m bail

Fani-kayode sandwiched by EFCC officials Justice James Tsoho of the Federal High Court Abuja on Thursday granted a N50m bail to former spokesman of the Goodluck Jonathan Campaign Organisation, Chief Femi Fani-Kayode. Fani-Kayode was arraigned by the Economic and Financial Crimes Commission (EFCC) on a five-count charge of money laundering to the tune of N26m. Fani-Kayode is the sole defendant in the fresh charges numbered, FHC/ABJ/CR/140/2016. The EFCC accused the defendant of diverting 26 million Naira allegedly received from the ONSA while Sambo Dasuki was in office. The anti-graft agency also accused him of handling the said N26 million without going through financial institution as required under the Money Laundering Act. The embattled former minister is already facing 17-count charge of money laundering before the Lagos Division of the court, along with a former Finance Minister; Nenadi Usman, Danjuma Yusuf and a firm; Joint Trust Dimension Nigeria Limited. They were charg...
Post a Comment
Read more

Pope not involved in Colombian peace deal- Vatican

Pope Francis Pope Francis has turned down a request to play a role in the peace deal between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) rebel group. The Vatican in a statement issued on Wednesday in in Vatican City said that an invitation was sent to his Holiness in early August to appoint a representative to participate in the committee that selected the judges for the talks. The statement said that though Pope Francis supported the peace process, he, however, reiterated that he would not get involved in Colombian peace deal. It said that Pope was praying for the enlightenment of the hearts and minds of those who were called to promote the common good of the Colombian nation. A deal was announced last week, putting an end to five decades of internal conflict between government forces and the FARC rebels. The agreement, which needed to be ratified through a referendum in Oct. 2, would entail setting up a special court to grant amnesties or pu...
Post a Comment
Read more

Man docked for defiling 9-year-old girl

magistrate-court A 33-year-old man, Godwin Otobo, was on Monday docked at a Surulere Chief Magistrates’ Court in Lagos.For allegedly defiling a nine-year-old girl, ‎Otobo, who lives at No. 10, Borrow Pit St., Sangotedo-Ajah area of Lagos, was said to have defiled the underage girl whose parents also reside in the same compound. The Prosecutor, Sgt. Anthonia Osayande, told the court that the accused committed the offence at about 9.00 p.m. sometimes in September. “The accused defiled the girl in the night when she was fetching water.‎ “The offence contravened Section 137 of the Criminal Law of Lagos State, 2011,’’ Osayande told the court. The accused pleaded not guilty to the one-count charge of defilement. Ruling on a bail application filed by the accused, Chief Magistrate Ipaye Nwachukwu, granted him bail in the sum of N500,000 with two sureties in like sum. She said one of the sureties must be a property owner in Lagos State, while the other must be a civil servant on grade...
Post a Comment
Read more