NMBC, NEPC, MATRADE move to establish trade corridor
NEPC
The Nigeria-Malaysia Business Council (NMBC), has partnered with the Nigeria Exports Promotion Council (NEPC), and the Malaysia External Trade Development Corporation (MATRADE), on the establishment of a trade corridor.
The partnership is aimed at boosting trade and investment between the two countries,
Speaking at the partnership ceremony in Abuja recently, President, NMBC, Dr Michael Aderohunmu, said trade and investment are instruments to drive business with capacity to galvanise resources from both countries to buoy sustainable economic growth.
Aderohunmu said: “The world was changing rapidly we are talking about ‘Trade War’, as matters of fact we are witnessing new economic order and trade realignment, therefore, we have so much to do to place Nigeria -Malaysia trade relationship on a high pedestal.
According to him, NMBC focuses on importance of improved mechanism in trade and exchange of goods and services mutually beneficial to both economies.
The idea of establishing Nigeria-Malaysia trade corridor, he noted is to improve trade conditions, taking into account the interests of both countries, and will involve series of targeted products, build businesses around agriculture, oil and gas, and SMEs.
Aderohunmu said the gains of the pact would trail the trade corridor initiative between Nigeria and Malaysia, as well as lead to efficient service delivery and create wealth in various sectors like agriculture, particularly the oil palm, and agribusiness development with innovative approach for value addition.
He added that trade development could play a key role by working with governments to guide to the two countries’ relationship.
He explained, “This is in line with the willingness of Malaysian government to improve trade and economic relations with Nigeria, hence, the MATRADE Office was moved from Nairobi, Kenya, to Lagos, Nigeria, to oversee the business and trade opportunities in Nigeria, under the High Commission of Malaysia Office in Abuja.”
In her remarks, the Malaysian High Commissioner to Nigeria, Gloria Tiwrt, expressed appreciation for the sustained role played by the Nigeria-Malaysia Business Council in promoting economic ties between the two countries.
She particularly commended Aderohunmu and the Malaysian Trade Commissioner of MATRADE Khairy Maidin, for articulating the framework to establish the Nigeria-Malaysia trade corridor.
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