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Nigeria, Poland to renew agreement on bilateral trade


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Nigeria

Nigeria, Poland to renew agreement on bilateral trade

 

THE Polish Chamber of Commerce has expressed its willingness to resuscitate the partnership agreement it signed with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) in 1998.

Head of the Polish chamber, Marek Zelazko told the News Agency of Nigeria, on Sunday, in Warsaw, that the agreement failed to live up to expectation, following challenges encountered by investors from both countries.

Nigeria and Poland established diplomatic ties in 1960.

Zelazko, who spoke through an interpreter, listed the shortcomings to include lack of business contacts and the zeal by investors to drive the framework, among others.

“The agreement signed in 1998 was not fruitful to both countries. There is need to resuscitate the agreement by way of developing people-to-people diplomacy as this is the main force that will drive the framework,” he said.

Zelazko, who is also the Adviser on Foreign Relations to the Polish President, observed that the abundant natural resources in Nigeria would be attractive to polish investors, especially in the areas of crude oil and coal.

According to him, Poland is an emerging economy, which Nigeria can also invest in to correct the imbalance in the volume of trade that is currently put at 90 per cent in favour of Poland.

While stressing the need to further promote economic cooperation between both nations, Zelazko called for a tripartite joint commission between Poland-Czech and Nigeria, saying, “such regional cooperation will expand investments and open up new market opportunities.”

He also tasked the media on creating business awareness, adding that “the media has a lot to do to also promote investment opportunities between the countries.”

Meanwhile, Nigeria’s Envoy to Poland, Ambassador Asalina Mamuno, on Sunday, in Warsaw, stressed the need for businessmen to liaise with the nation’s embassies and missions when embarking on international business deals.

Mamuno, who also has a concurrent accreditation to the Czech Republic, spoke against the backdrop of the increasing high-level informal trade among businessmen, saying that it was impossible for embassies to rate the volume of trade, following increase in informal businesses.

“Most times, once people get their visa, they embark on business deals without consulting us and when it goes wrong, they start coming to the embassy for assistance,” she said.

“Economically speaking, not much success has been recorded between Poland and Nigeria in the area of trade and investment, but there are other areas we can benefit especially in their technical expertise in agriculture.

“They have a good farming scheme and since agriculture is an integral part of the nation’s transformation agenda, I think we can engage the Poles,” Mamuno Said.

She listed other area Nigeria could key in to include alternative energy sources.

“About 90 per cent of their power is derived from coal, they also have a clean development mechanism- a technology that can reduce environmental pollution caused by coal,” she said.

According to her, some Polish investors have indicated interest in using Nigeria’s palm kernel for renewable energy sources, a move she described as a positive development.

 

 

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Updated 5 Years ago
 

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