- The bilateral trade volume between Nigeria and European country, Turkey, has recorded an increase over the previous year figure. According to the Turkish Ambassador to Nigeria, Hakan Cakil, the trade volume between the two nations reached $2.5 billion from $1.3 billion recorded in 2013.
- The Turkish Ambassador made this known at a forum organised by the Abuja Chamber of Commerce and Industry (ABUCCIMA) in Abuja.
- Cakil stated that Turkey was looking to leverage more on the strong ties with Nigeria and expand investment into energy, agriculture, construction to boost the existing partnership.
Cakil said, “We have strong relationship with Nigeria; we have economic ties in commercial field. We shall do our best to enhance the business opportunity in Nigeria. We are looking at the different sectors of the economy for investment. The area include energy, agriculture, construction. We have to let the businessmen meet to interact and share ideas.”
He further stated that: “We (Turkey) have to find business opportunities in the two countries. Total trade volume between the two countries as at December 2014 was 2.5 billion dollar; the bilateral trade relationship is in favour of Nigeria because we are importing crude oil and other mining products.”
“Nigeria is the leading or number one business partner of Turkey in the Sub-Saharan Africa. And Nigeria has created business environment that encourages Turkey businesses to grow in the country,” he added.
- While speaking at the forum, the Permanent Secretary of the Ministry of Federal Capital Territory (FCT), Mr. John Chukwu, stated that Nigeria and Turkey can improve the existing bilateral relations “by encouraging the adoption of comparative advantage and technical know-how in showcasing economic strength and identification of areas of collaboration for improved trade relationship.”
This said level of Trade volume between Nigeria and Turkey is highly commendable. This is the result of serious and persistent hard works between relevant Agencies of the two countries in the last three to four years. A lot has gone into business collaboration between the Nigerian Private Sector and their counterparts in Turkey. Through orchestrated actions by the activities of the Nigeria D8 Office (Developing Eight Countries for Economic Cooperation) until recently stationed in Istanbul, Turkey devoted solely for Trade and Investment promotion and the Nigerian Embassy Ankara, Turkey the Nigerian Private Sector operators were able to reach out effectively to their counterparts in Turkey who fortunately have been looking forward to such collaborative efforts following general economic development in the European markets.
Prior to 2010 the Trade Volume was not impressive. In fact many Nigerian Businessmen do not know much about Turkey and the same was true of Turkey many Turkish Businessmen are not aware of the abundant investment opportunities available in Nigeria. All that has now changed. A lot of FDI has come from Turkey and more I believe is still on the way.
However, there is need for sustenance of the present momentum to further drive the figures upward. It is in this light that I wish to commend efforts of the Abuja Chamber of Commerce and Industry organizers of the Business Forum. Please keep it up!…. . .