Nigeria expects more investment from Vietnam

Hanoi (VNA) - Nigeria wishes to promote investment and trade cooperation with
Vietnam , the Charge d'affaires of the Nigerian Embassy in Hanoi , Sani Bako
said, affirming that the Nigerian government always facilitates investment for
Vietnamese businesses.

The Nigerian embassy has facilitated the issue of visas for Vietnamese businesses
to visit and seek investment and trade opportunities in Nigeria , Bako said at a
Nigeria-Vietnam trade promotion forum in Hanoi on Apr. 9.

He also stressed that his country wants to enhance cooperation with Vietnam in
agriculture.

As the 2 nd biggest foreign trader in Africa, Nigeria 's imports cover a wide
range of commodities, including those of Vietnam 's strengths such as rice. The
Nigerian government has abolished all taxes and charges on rice import to
alleviate the national food crisis, that would be a big opportunity for Vietnamese
rice exporters, Bako said.

Nze Vitalis Eberechukwu Udunenwu, head of a delegation of 35 Nigerian businesses
to the forum, suggested the establishment of a Vietnam-Nigeria business council to
link the business circles of the two countries, especially to encourage the
private sector to take part in trade fairs and investment forums.

Speaking at the forum, Deputy Minister of Industry and Trade Nguyen Thanh Bien
said Nigeria is a potential market in Africa and a gateway for Vietnam to
enter other western and central African countries.

The two countries' bilateral trade has constantly developed over the recent past,
but is still incommensurate with their potentials, Bien said. He said businesses
of the two sides should further tap their strengths and potentials and seize
opportunities to promote trade and cooperation.

According to the Ministry of Industry and Trade, the two countries' two-way trade
last year reached over 105 million USD. Vietnam 's major exports to Nigeria
include rubber, electric and electronic products, footwear, plastics, handicraft
and fine art articles and construction materials. The country imports from
Nigeria raw cashew nuts, fruits, cotton and minerals from this country.

The forum, held within the framework of the on-going International Trade
Exhibition 2009 in Hanoi , provided a chance for businesses from the two
countries to find partners and exchange views on cooperation projects and
strategies in the future.-Enditem