The Nigerian Ambassador to Pakistan, Dauda Danladi, has disclosed that Pakistan-Nigeria Trade Relations would get a boost in August as over 50 Pakistani Investors and exporters from Punjab and Sindh Province as well as from the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) join a trade delegation to Nigeria.
Mr. Danladi, in a statement emailed to PREMIUM TIMES, described the trade delegation to Nigeria from Pakistan as a major breakthrough and turning point after Nigerian President Goodluck Jonathan visited Pakistan last year visit.
He said the planned visit of the delegation to Nigeria was an indication that Pakistani investors were ready for strategic penetration into the Nigerian Market.
The ambassador said Pakistani investors had shown interest in collaborating with Nigeria in the area of agriculture equipment and machinery, establishment of fertilizer production units, farming technology, livestock, poultry, fisheries, pharmaceuticals, surgical equipments, garments and textile, including export of tractors and transfer of technology.
He said the investors from Lahore, Sialkot, Faisalabad, Gujranwala and Gujrat Chambers of Commerce are joining the trade delegation to Nigeria from Punjab Province.
He added that exporters from Karachi Chamber of Commerce & Industry and Korangi Association of Trade & Industry are also moving to Nigeria with the Trade Delegation from Sindh Province.
Highlighting the potentials of Nigerian market for Pakistani investors and exporters, Mr. Danladi said Nigeria was among Africa’s 10th largest economy, contributes 77 per cent of Africa’s GDP.
He said Nigeria has a huge population of 165 millions and its economy largely depends on Oil.
He said, “Nigeria also accounts for about 60% of the West African GDP and even Central Africa. In Nigeria 26 textile factories are working. In 2012, Nigeria imported approximately $ 8 billion garments, Nigerian Medical Association has reported that last year 2012 , Nigeria spent $ 260 million on Medical tourism to India. He said Nigerians spent $ 500 million on medical tourism. Nigeria imported $ 1.2 billion medicines in 2012.”
He urged Pakistani investors to penetrate and win their share of the Nigerian market.
He said the government of Nigeria offers various incentives to investors such as 100 per cent import and export exemption, 100 per cent exemption from commercial levies, 100 per cent repatriation of capital and profits, 100 per cent company ownership, No quotas for expatriate employees and no corporate taxes.
Mr. Danladi further added that the Pakistani investors were likely to meet President Jonathan, Vice President Namadi Sambo, the ministers of foreign affairs, trade and commerce, agriculture and governors of 13 states.
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