Nigeria, Pakistan Trade Volume Slumps to $1bn – Envoy

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Pakistan’s current volume of trade with Nigeria is below $1bn, representing about 46 percent decrease from 2016.

The Head of Chancery in the Pakistan High Commission, Mr Asim Khan, on Thursday in Abuja said that Pakistan offered scholarships to about 100 Nigerians to study in that country from January, especially in technical education, physics and other science subjects.

He added that Nigeria had also been benefiting from the military assistance by Pakistan in the area of in training of personnel and anti-terrorism fight.

Khan stressed the need for Nigeria to take advantage of his country’s vast experience in agriculture and health sectors, adding “we are self-sufficient in many products such as fruits, wheat, vegetables and other agricultural products’’.

“Our health sector is very sophisticated as both countries can benefit a lot because we export pharmaceuticals and surgical equipment to many parts of the world but Nigeria has not taken advantage of this to boost its health sector.’’

The envoy said Pakistan for the first time, imported energy from Nigeria to boost trade between them, adding that two shipments of the product had already been made.

Commenting on the 10th Pakistan Expo billed for Karachi from Nov. 9 to 12, he said it would provide opportunities for Nigerian business community and others from parts of the world to assess the country’s potential and explore ways of boosting partnerships with their Pakistan counterparts.

He said about 100 Nigerians had applied for visas to attend the event, adding that it was the biggest opportunity to showcase the country’s collection of merchandise and services to foreign exhibitors and investors.

“Last year, the expo was on textile sector but this year, it is about all sectors. The Expo helps both consumers and suppliers to meet under one roof directly as it eliminates intermediaries.”

He said such intermediaries could create problems and increase prices, adding that concessionary rates were always given to assist potential investors/exhibitors as incentives to Nigerian chamber of commerce.

The 2015 edition of the expo raked in about 1.2 billion dollars due to a large number of business operators and deals transacted worldwide.

Khan announced that Pakistan was focused on the need to reinvigorate its joint commission with Nigeria in 2018 for the benefit of both countries.
He assured investors and exhibitors that there were no issues that could warrant security concerns in Pakistan, adding that the government and organisers of the expo had taken care of such matters.

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