ISLAMABAD: Federal Minister for Industries and Production, Ghulam Murtaza Khan Jatoi here on Thursday reiterated the government’s resolve for enhancing bilateral trade with Nigeria, which was currently stood at US$ 500 million. The High Commissioner of Nigeria, Dauda Danladi called on Minister for Industries and Production and highlighted many potential sectors where Pakistan and Nigeria could assist each other including agriculture, textile, machinery, vehicles and technological development.
The High Commissioner told the Minister about his visit of different cities and the immense potential of trade and investment existing between both the countries. The Minister discussed the potential agreement between Pakistan and Nigeria which includes industrial policy, data and information sharing and establishment of industrial infrastructure in Nigeria.
The agreement also details cooperation between small and medium enterprises (SMEs) through joint ventures and technology transfers. Ghulam Murtaza said that there was a great export potential for Pakistani goods including agricultural machinery, fertilizers, pesticides, vehicles, pharmaceutical products, textile products, cereals, legumes, sports goods and toys, plastic articles and leather articles.
He also assured that he will coordinate with the Ministry of Commerce and the Ministry of Textile to make all these potential partnerships possible, and create working groups of the Small and Medium Enterprises Development Authorities (SMEDAs) of both the countries. During the meeting both sides emphasized the need for enhanced cooperation in textile ginning, weaving and garments where as both side agreed enhance cooperation in oil and gas sector.
Both sides also discussed about the joint ventures such for establishing oil refineries and import of petroleum, oil and lubricants to Pakistan at subsidized rates. The High Commissioner also stressed the need for technological development in the agricultural sector, such as establishment of tractor assembly plants in Nigeria to reduce reliance on imports of 10,000 tractors per year.
