Nigeria, Mexico business quantity hits $600m
The business quantity between Nigeria and Mexico has grown via 360 consistent with cent from 166.five million greenbacks in 2012 to 600 million greenbacks in 2016.
The Mexican Embassy, Deputy Head of Mission, Rodrigo Tenorio, made this recognized in an interview in Abuja on Monday.
He spoke at the sideline of a roundtable for running trade dialogue on business challenge to Mexico organised via the Nigerian-Mexican Chamber of Commerce and Industry (NMCCI) and Mexican Embassy.
“Though the determine could also be small however actually this is a large transaction that we’ve got within the ultimate 15 years, which used to be then 45 million greenbacks.
“What that suggests is that it has grown greater than 500 occasions in 15 years and our purpose and function is to verify it grows extra.
“There are some similarity between Nigeria and Mexico, we are predominantly largest and young population and we are about power house of our region just as Nigeria in Africa,” he mentioned.
According to him, Mexico sees Nigeria as a herbal spring board to face for all of the Africa and major function is to ensure that Nigeria is referred to as primary economic system in Africa.
He mentioned that the main problem within the dating between the 2 international locations used to be that they didn’t know each and every different smartly.
“We have no idea each and every different, Mexico is understood for medicine whilst Nigeria is understood for Boko Haram and different social vices.
“But there may be a lot more than that, what’s maximum essential in development the connection is to grasp each and every different higher.
“Once we know that Mexico is more than drug cartel and baron, Nigeria is much more than a small group in the north causing trouble,” he mentioned.
According to him, if we all know ourselves higher the trade folks may just sit down down and get started discussing doable companies for the long run.
The Vice President of NMCCI, Dr Chukwuemeka Elele, mentioned that the Chamber used to be introduced in December 2014 as a part of efforts to additional enhance the bilateral business members of the family, between the 2 international locations.
He mentioned the chamber had organised its first business challenge to Mexico in May 2015 with 35 Nigerian marketers taking part.
The business challenge, he mentioned, had given start to numerous a success companies in Nigeria lately in time period of export to Mexico, pronouncing that there used to be so much for Nigeria to achieve in trade dating with Mexico.
He mentioned that Mexico Business Summit used to be bobbing up October 2017 and instructed Nigerian businessmen to profit from the alternatives in Mexico.
According to him, the Nigerian Investment Promotion Commission, Nigerian Export Promotion Council and the Nigerian Export-Import Bank additionally participated within the business challenge.
“These 3 organisations signed Memoranda of Understanding with their opposite numbers in Mexico to advertise bilateral business, funding, joint ventures and strategic alliances.
“These agreements have created alternatives for trade in Mexico.
“We are taking a look at what each and every nation can achieve from each and every different; we aren’t taking a look at one sided economic system however a mutually advisable dating, he mentioned.
He mentioned that prior to now 80 consistent with cent of Mexico’s income used to return from oil similar to Nigeria and 20 consistent with cent from production sector.
“However, lately they’ve modified the equation, handiest 20 consistent with cent in their income comes from oil and 80 consistent with cent comes from production.
“And today the economy is doing very well and Nigeria is now treading the same path, understanding the fact that mono economy is dangerous; we can learn a lot from Mexico,” he mentioned.
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