Bilateral Trade: Nigeria strengthens partnership with Canada

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The Nigerian Government has reiterated commitment to deepening collaboration with Canada on strategic sectors of the economy that will help to facilitate industrial development. The Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Dr. Evelyn N. Ngige made this during a courtesy visit by the Canadian Deputy High Commissioner to Nigeria, Teshome Nkrumah in Abuja.

Dr. Ngige assures the bilateral agreement that will enhance economic development and deepen technical engagements between Nigeria and Canada. The Permanent Secretary stated that the Canada Trade and Investment Forum with the theme: “Towards Stronger Economic Prosperity” was held in Ottawa, Canada early this year to accelerate economic and commercial relations between Canada and Nigeria.

According to her, “The forum provides the platform for business leaders and policy makers from both countries to share ideas, discuss and build trade and investment”. “It also provides opportunities for stakeholders in both countries to collaborate on mutual areas of development such as governance, financial inclusion, Education and gender empowerment.”

Dr Ngige assures the Canadian delegation that Nigeria will soon give feedback for further negotiation on the Investment Promotion and Protection Agreement IPPA between Nigeria and Canada. In his presentation, the Director, Trade Department in the Ministry, Mr Suleiman Audu noted that the Nigeria-Canada Trade and Investment Mission provided a platform to engage key government businesses and Non-Governmental-Organisations and stakeholders to discuss the opportunities and challenges faced between Nigeria and Canada in trade as well as build Canadian support in the push for a foreign investor protection agreement and other agreements.

Earlier in his address, the Canadian Deputy High Commissioner to Nigeria, Teshome Nkrumah says Nigeria and Canada have a lot of synergies in merchandise trading and minerals asset. He added that Canada is the major food exporter around the world with very strong potentials on ICT, aerospace, education, oil and gas and called on both countries to provide the framework for market place.

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