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Nigeria, Norway To Strengthen Trade Ties



Plans have been concluded by Nigeria and Norway to strengthen the existing ties between them in the area of Trade relation.
Minister of Foreign Affairs, Mr Geoffrey Onyeama, made the disclosure when he played host to Norwegian State Secretary for International Development Mr . Jens Frolich Holte and his team.

Onyeama explained that the consideration to further strengthen trade ties between both countries became imperative in order to help to tackle issues that surrounds economic trade in Nigeria.

He said though Nigeria had experienced and survived economic recession, it is key for the nation to effectively manage resources through mutual cooperation.
Onyeama said “we look forward to working with Norway to leverage on the level of trade between our countries and to improve on it.
“We have gone through economic recession and come out of it; we are very keen to work with you.

“You are oil producing and have also managed your resources a lot better than we have; this is why we are trying to diversify our economy.
He said “our President, Mr. Muhammadu Buhari recognises the fact that operating a mono-economy was too dangerous as it could crash without notice, hence, the need for diversification of Nigeria’s economy.

The minister stated that , “we are looking to countries like yours to invest in Nigeria where there have been challenges in terms of ease of doing business and to make business trade a priority.”

Holte stated that they were at the ministry on maiden official visit to establish bilateral relations with Nigeria.
The Secretary described Norway and Nigeria as key in areas of production of crude oil, energy and gas, and promised to further cement economic trade relations with her to promote growth.

According to him, oil and gas, energy and fishery are major stock in trade volume between the two countries, but more is being done to improve on it.
He explained that their relationship with Nigeria dates back to 1980, both countries have taken extraordinary steps to improve renewable energy, oil and gas sector.

“We look forward to key into areas within renewable energy; where there is big potential . Norway has potential to invest in Nigeria.
“It is an industrialisation sector which Norway has placed importance on . Nigeria has priority and has also informed this first bilateral meeting in the ministry,” Holte said.



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