Officials and Businesspersons from Iran and Nigeria have underlined the need for setting out a roadmap for implementing the trade agreements between the two countries.
Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) hosted a conference on Monday which focused on reviewing the potentials for trade exchanges between Iran and Nigeria.
Addressing the conference, Director of Arab-African Department of Iran Chamber of Commerce, Shahram Khassipour, said that in addition to agricultural, mining, and oil and gas cooperation, Iran and Nigeria can have cooperation on IT and telecommunications.
He regretted that the volume of trade exchanges between Iran and Nigeria is not compatible with their potentials, noting that the chambers of commerce of both countries have to identify grounds for trade exchanges and help create links between the businesspeople of the two countries.
Nigerian Ambassador to Iran Yakubu Santuraki was another person to address the conference who said his respective government has now adopted measures to further facilitate foreign investments in the country.
Noting that investment in Nigeria is fully guaranteed, the ambassador said that the Nigerian government has ensured those who invest in the country’s oil sector to receive the benefit of their money and easily transfer it to foreign accounts.
He said that the ground is also prepared for cooperation with Nigeria in overseas farming and production of pharmaceuticals, adding that the Nigerian government welcomes the presence of Iranian investors in the country.
In the meantime, Iran’s Ambassador to Abuja Mohammad Alibak, said that the Iranian government has limited facilities for expansion of trade with Africa and it is the private sector that has to help change the conditions.
He said that the volume of trade between Iran and Nigeria has now grown to $140 million from $18 million three years ago, noting that the figure is insignificant compared to Nigeria’s $100 billion foreign trade.