Nigeria and Egypt’s current annual trade volume has risen to $141 million, as both countries prepare to host the inaugural Nigeria-Egypt Trade Conference and Exhibition (NETCE) on Monday in Cairo.
Nura Rimi, the Nigerian Ambassador to Egypt, revealed this in a statement on Sunday.
The Nigeria-Egypt Cultural and Socio-Economic Forum (NESCEF) is organizing the event in collaboration with the Nigerian Embassy in Cairo and the Egyptian African Businessmen’s Association (EABA).
What they said:
Mr. Abdul-Razaq Musa Executive Assistant to the President, NESCEF, noted that the theme of the event is ‘‘For Africa, By Africa’’, exploring the African Continental Free Trade Area (AfCFTA), citing that the conference would promote successful bilateral economic and business relations.
He added;
The conference will bring together government ministers, governors, and ambassadors from Nigeria and Egypt along with over 300 delegates, visitors, and exhibitors.
Over the course of two days in the ancient city of Cairo, businessmen and women from Africa’s two largest economies will engage in Business-to-Business sessions, and exchange ideas.
They will attend exhibitions from participating Nigerian and Egyptian companies, showcasing their products and services.
An industrial tour, scheduled for October 12, will afford the Nigerian participants to learn about the industrial environment and the latest technology in Egypt.
NETCE 2022 is meeting and exploring the African Continental Free Trade Area (AfCFTA).
And it is providing limitless opportunities for us to enhance trade between Nigeria and Egypt to a new and enviable height, Ahmadu said.
Nigerian Ambassador to Egypt, Nura Rimi added that the current trade volume of the two countries stood at $141 million, he added that “Nigeria is ready to work towards achieving much higher levels of bilateral trade with Egypt.”
Rimi noted that the successful implementation of reforms promoting transparency and efficiency in the business environment would promote economic diversification into real sectors like agriculture, mining, and manufacturing between both nations as they house the two largest economies in Africa. It is also a win-win situation for the two countries.
