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Pakistan optimistic of greater trade, investment cooperation with Nigeria



Pakistan optimistic of greater trade, investment cooperation with Nigeria

Pakistan is optimistic to take advantage of the ongoing trade and development conference / expo in Lagos aimed at promoting trade and investment cooperation between Pakistan and Nigeria, according to a senior official.

Abdul Razak Dawood, Advisor to the Prime Minister of Trade and Investment of Pakistan, said this on Thursday in Lagos while speaking on the sidelines of the Second Pakistan-Africa Trade Development Conference.

The conference is a one-country exhibition under Pakistan’s “Look Africa” ​​policy.

The Nigerian News Agency reports that more than 100 companies from more than 11 sectors of the economy are participating in the exhibition.

Participants include manufacturers of surgical instruments, cosmetics, leather products and accessories, kitchen utensils, food and beverages, automotive and agricultural machinery, household appliances and information technology.

Dawood added that under his government’s look at Africa policy, Pakistan saw the need to communicate more with the African continent and especially with the countries of the ECOWAS sub-region to boost trade and investment.

“We brought over 200 businessmen from Pakistan with hope in their hearts and many aspirations that we can do more and more business with Nigeria, not only in trade but also in investment, and many of our people come to seek investment opportunities in Nigeria.

“Here at the expo, we showcase many of our products, such as pharmaceuticals, surgical equipment, insurance, and food processing, among others.

“I will meet with Nigerians and other Africans to encourage them to visit Pakistan and see our people because there is so much potential there too.

“In terms of trade and investment, I always feel that when you come again and again, people take you seriously because it shows commitment and that is why after the exhibition we will return in 2022.

“Pakistan focuses on two things; and one, business people entering the country, which is now liberal, and the second is for tourism.

“Also the ease of traveling between the two countries is what is required.

“I am very hopeful that this visit from so many of our people will bring greater collaboration in the trade and investment sector.

“In the first edition in Kenya we had 80 people, but here we have 200 and that shows our interest,” he said.

Speaking previously with the former Nigerian ambassador to Pakistan, Mr. Dauda Danladi, he said that the event was a consolidation of the various bilateral trade agreements that Nigeria had signed with Pakistan.

He said he was happy that the exhibition was the culmination of what Nigeria set out to achieve in 2014 when it invited the Pakistani president.

According to him, at least 70 trade delegations visited seven Nigerian states as a result.

He expressed the wish that both countries establish chambers of commerce between Nigeria and Pakistan that promote trade and investment.

“As a result, this delegation has come today to expand business opportunities, especially within the ECOWAS sub-region.

“We want to capitalize on the African continental free trade area that is now being implemented within the African continent.

“Both countries have huge and huge populations; Pakistan has almost 200 million inhabitants and so does Nigeria.

“In terms of agricultural development, we share similarities, but Pakistan has a comparative advantage in terms of producing agricultural implements such as tractors, agricultural implements in general, and inputs such as fertilizers that could boost agricultural production in Nigeria.

“In the area of ​​textiles, you know that Nigeria spends more than 50 billion naira on the import of textile materials.

“We need to rejuvenate the textile industry and Pakistan is the seventh largest textile exporter in the world and I believe that collaborating in that field will renew the textile industry.

Source: NAN

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