German-Nigeria business forum holds in Abuja

German-Nigeria business forum holds in Abuja
Hauwa Noroh Ali , Abuja

The 4th German-Nigerian Business Forum aimed at improving trade relations between both countries is holding in Abuja, Nigeria’s capital.

German Chancellor, Angela Merkel, arrived in Nigeria on Wednesday ahead of the forum slated for July 14 and 15.

The Chancellor, will during her visit to the country hold bilateral talks with president Goodluck Jonathan and will have audience with ECOWAS President, Mr. Victor Gheho.

Merkel will be the first German Chancellor to visit Nigeria since 1976 after Chancellor Helmut Schmidt.

Increasing trade relations

A delegate of the German-Nigerian Business Association, Mr Andre Ronne,  stated that trade between both countries was on the increase with the current volume put at over 2.5 billion Euros, against two billion Euros in 2009.

He stated that the figures represent export in Nigeria’s crude oil against machineries, equipment and chemicals from his country.

He attributed the current high prices of oil as the reason for the increased trade, while the global economic crisis was responsible for the low volume of trade recorded previously.

Ronne said that the trade volume would further improve with the diversification of the Nigerian economy to include other sectors such as manufacturing and agriculture.
Mr Jaiye Doherty, a Nigerian and a member of German-Nigerian Business Association, said the association was working with the Standard Organization of Nigeria (SON) to create awareness on standardization of goods and products to attract more patronage in the German market.

He said: “the response by Nigerian businessmen on German trade is positive with increased participation in the annual forum this year’s forum would focus on banking and finance, alternate energy , infrastructure and consumer goods.”

Williams