Nigerian diplomat calls for setting up joint chamber to enhance trade

KARACHI: The Nigerian High commissioner held a meeting with the Karachi Chamber of Commerce and Industry (KCCI) officials and discussed the establishment of a joint chamber of commerce and industry between the two countries to enhance bilateral trade, a statement said.

During his visit to the KCCI, Nigerian High Commissioner Mohammed Bello Abioye also stressed for starting direct flights between Nigeria and Pakistan.

“Setting up a joint chamber is necessary to improve trade and investment cooperation between the two countries, otherwise we will not be able to do much,” he said.

Abioye said that although an agreement was signed for setting up a joint chamber of commerce and industry in 2015 but no progress has been made so far.

The lack of direct flights is another reason for limited trade between the two countries, he said. “If direct flights are commenced, it would surely facilitate trade and investment between the business communities of the two countries,” he said.

Nigeria, which has a very large population, is a peaceful and stable country where Pakistani businessmen and industrialists could either establish their business units or undertake joint ventures, he said, adding: “We can become partners in progress through further strengthening of trade ties.”

“We are keen to strengthen our relations with the KCCI, as it is the most important platform that represents Karachi city. Any delegation’s visit from the KCCI to Nigeria will be fully facilitated as we want to see trade flourishing between the two countries,” the diplomat said.

Many commodities, particularly cotton and coco being largely produced in Nigeria can be provided to Pakistan, he said, adding that the Nigerian cotton can be used by Pakistan’s textile sector for producing their value-added products.

Earlier, KCCI president Muhammad Idrees said that Pakistan imported commodities worth $116.27 million in 2020, which was 58.4 per cent lower than $279.74 million in 2019, while the exports to Nigeria stood at $29.97 million in 2020, which was 9.1 per cent higher than $27.47 million in 2019.

Idrees said that Pakistan and Nigeria should develop strong trade and economic ties through exchange of trade delegations, continuous liaison with the businesses and Small and Medium Enterprises that would help upscale the two-way trade.

The trade volume between the two countries can be ramped up by launching direct flights between Pakistan and Nigeria, while a proper direct banking channel must also be established, he added.

The KCCI chief assured to discuss the pending issue of Pakistan-Nigeria joint chamber of commerce with relevant authorities at the Ministry of Commerce and advised to establish the joint chamber in collaboration with the Karachi Chamber, which has already established a similar joint chamber with Afghanistan.

He also requested the high commissioner to look into the possibility of opening up the Nigerian Consulate in Karachi.