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Nigeria, Turkey trade volume hits N206bn


News » Business
Nigeria

Herbert Ajayi, the President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has said the trade volume between Nigeria and Turkey stood at N206 billion ($1.3 billion) as at May this year.

Ajayi who was represented by the Second Deputy National President, Bassey Edem made this known at the opening ceremony of the first Turkish Products Exhibition recently in Lagos.

He said that the trade volume had improved tremendously, adding that both countries were benefiting from long-standing trade relations. According to the president, Nigeria's main imports from Turkey were clothing, food items, engine and automobile parts, while Turkey was importing sesame seeds, raw and semi-processed leather as well as rubber.

Ajayi stated that the exhibition was geared towards enhancing the bilateral relations between the two countries, noting the world was gradually becoming a global village due to adoption of trade liberalisation policies by nations.

Ali Rifat, the Turkish Ambassador to Nigeria, said the exhibition was organised to demonstrate the business opportunities offered by Turkey. Rifat said Turkey had become an attractive country for foreign investors, becoming the fastest growing economy among members of the Organisation for Economic Cooperation and Development (OECD).

"Our per capita income increased to over 10 billion US dollars in 2010. Turkey's GDP is approaching one trillion US dollars level. "Turkey is recognised as an emerging economy with global reach. Therefore, you can rest assured when you do business with Turkish counterparts," he said.

Article credit: Businessday Newspaper

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Updated 6 Years ago
 

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