Nigerian ambassador to Pakistan, Mohammed Bello Abioye said on Monday that plans for a joint chamber of commerce and industry between the two countries to improve commercial connections have stagnated.
He also said no progress has been achieved, even though the two countries signed the agreement 15 years ago.
“Setting up a joint chamber was very necessary to improve trade and investment cooperation between the two countries otherwise we will not be able to do much,” said Amb Abioye during a meeting with a group of businessmen at the Karachi Chamber of Commerce and Industry (KCCI).
Another reason for the limited cooperation between the two countries, according to Amb Abioye, is the lack of direct flights.
“If direct flights are commenced, it would surely certainly facilitate trade and investment between the business communities of the two countries,” he said, adding that Nigeria, with its enormous population, is a stable nation where Pakistani businesses and industrialists could set up their operations or form joint ventures.
“We can become partners in progress through further strengthening trade ties.”
Nigerian goods like cotton and cocoa can be supplied to Pakistan, and Pakistan’s textile industry may utilise the imported cotton to make value-added goods, he added.
KCCI President Muhammad Idrees said the two countries should strengthen their economic and commercial connections by exchanging trade delegations and maintaining contacts with firms and SMEs.
However, he reiterates that adequate transportation would tremendously help this effort, as well as the financial channels required to “ramp up” trade volume.
