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Nigeria to strengthen trade ties with Canada

Nigerian vice president Namadi Sambo. (Image source: GovernmentZA/Flickr)

Nigeria has revealed plans to improve its economic relations with Canada in the areas of power generation, petrol chemicals, mining, aviation, agriculture, health, education and film production

The African nation’s vice president, Namadi Sambo, will soon lead a federal government delegation to Ontario to discuss issues pertaining to cooperation in the sectors.

Current partnerships between Nigeria and Canada include 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 US$6bn.

Nigerian minister of trade and investment Olusegun Aganga said after a meeting of the Nigerian-Canada Bi-national Commission, “We have have a common trade areas with the Canadian government and private sector. We also have had about 60 to 70 Nigerian companies interested in investing in Canada.

“There are also a number of state governments willing to participate. So, everything is moving on in the right direction.”

Aganga added that there were two things happening between Nigeria and Canada.

“One is the bi-national commission between the two countries while the other big thing is the investment forum which is going to take place from 2-4 May 2013. The preparation and the business relationship between the two countries are going on extremely well,” he remarked.

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

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