Italy To Expand $2.4bn Yearly Trade Volume With Nigeria

Italian government has opened a trade agency in Lagos in a move to expand the already $2.4billion yearly trade volume with Nigeria while equally increasing its economic cooperation with the country.

Consul General of Italy, Ugo Boni, who disclosed this at the opening of Nigeria Agrofood International show and conference  in Lagos yesterday, said his home government is aiming at expanding current $2.4 billion trade cooperation with Nigeria.

Boni said, Italy considers economic cooperation with Nigeria, especially, in the area of agriculture development as key priority.

He said, Italy is keen at helping Nigeria sustain economic restructuring and diversification into the agriculture sector and willing to provide the country with latest technology to boost agriculture yield.

He noted that the theme of the exhibition, ‘Delivering Food & Nutrition Security through Cold Chain in Africa’ is apt as the world intensifies efforts to achieve food security, especially, among developing economies.

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In a similar move, the government of Germany, said, it is deploying new technology to support Nigeria’s agriculture transformation.

Speaking at the summit, German Consulate General, Lagos, Weert Borner, said Germany is working towards helping Nigeria to create value addition using modern technology to process raw materials.

Borner said, Nigeria should be encouraged to limit export of raw materials and also embrace greener agriculture.

He said, Germany is encouraging more packaging companies to invest in the country which prompted its cooperation with organisers of the Agrofood fair.

Beside such collaboration, Borner said, the German government is investing in research and is doing that with a number of tertiary institutions in the country.

Also, speaking at the event, the Minister of Industry, Trade and Investment, Adeniyi Adebayo, said government is encouraging public-private partnerships to find lasting solutions to cold chain challenges in Nigeria and African trade. 

Adebayo stated that, the working together of both the public and the private sectors will uplift the cold chain industries to international standards and would assist in the diversification of the Nigeria economy.