Sunday, August 8, 2010

Nigeria - Germany set to deepen investment

Nigeria and Germany have embarked on a number of initiatives aimed at deepening business and investment relations between the two countries.
At a joint press briefing on the 2010 edition of Nigerian German Business Forum in Lagos on Thursday, the two nations said that the trade and business relations between them needed upgrading in view of the current and potential opportunities in the two economies.

To achieve this objective, the two countries have embarked on a number of initiatives in a bid to create new areas of investment and business opportunities.

One of such initiatives, according to the representatives of the two sides that make up the Nigerian-German Business Association, the promoting agency behind the forum, was the establishment of the Nigerian-German Business Forum, which was designed as a vehicle for mobilising direct investments through interactions between investors and businessmen from the two countries. Two editions had been held since 2008.

Speaking on the 2010 edition, the Chief Operating Officer, Nigerian-German Business Association, the hosting body in Nigeria, Dr. Jaiye Doherty, said having successfully grown bilateral business volumes in the oil and gas and telecoms sectors, the new focus would be deepening business and investment volumes in agro-allied businesses, banking and finance, alternative energy, health care, education, infrastructure, marine and shipping and training.

”Apart from deepening relations and volumes of business in oil and gas, and information technology, the 2010 edition, described as the 3rd Nigerian- German Business Forum, scheduled for Abuja, would provide increased interactive opportunities between investors from Germany and Nigeria. The forum is scheduled to hold from August 20 to 21

The Consulate General of the Federal Republic of Germany in Nigeria, Mr Walter von den Driesch, said Nigeria remained the most important trading partner to Germany in the sub-Saharan region, after South Africa. He said results from the past two editions had indicated a rise in the volume of businesses and investments across the two divides.

Expressing confidence that this year‘s edition in Nigeria would be a success, Driesch said there were enough ground for mutual business cooperation between Nigeria and Germany.

He said, “Nigeria and Germany are both endowed with good sea ports, which are great incentives for maritime business. For instance, Hamburg , the hosting city of the last version in 2009, is a port city, just like Lagos.”

What this means is that it is much easy to facilitate business through maritime between Nigeria and Germany .

On his part, the German Ambassador to Nigeria, Joachim Christoph Schmillen, the forum, which is private sector targeted, was designed as an avenue to enlist increased interest in businesses and investments across the borders of the two countries.

He said all the investment and trade agencies of Germany would be on hand to attend to prospective investors and businessmen at the forum.

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