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Mexico, Nigeria to establish Chamber of Commerce

15 May 2014, 18:21

Abuja - The Mexican Ambassador to Nigeria, Marco Blanco, has said his country would partner with Nigeria to establish a Nigeria-Mexico Chamber of Commerce.

Blanco, who said this at a breakfast meeting, said the establishment of the chambers would fast-track the development of business opportunities in Nigeria.

“This will also as well strengthen the bilateral trade between both countries,’’ the ambassador said.

He said both countries were presently working on two agro-industrial projects in Enugu State and Rivers, worth $18 million and $36 million respectively.

Blanco said both projects would generate 7 500 direct jobs for unemployed Nigerians.

Speaking on why Nigerians should invest in Mexico, Blanco said his country was one of the most competitive countries in the world for productive investment.

He said this was due to its macro-economic growth and political stability.

“Our low inflation, the size and strength of our domestic market, economic growth rate and capacity to produce advanced manufacturing (high-tech products) are an added advantage.

“Mexico is an open economy which guarantees access to international markets through a network of free trade agreements.

 He said the commercial openness of Mexico have benefited Mexicans by creating jobs, and promoting their products and services in international markets.

Blanco said Nigerian investors could also tap into all of the opportunities in Mexico to develop the business environment in Nigeria.

In his remarks, Segun Awolowo, the Chief Executive Officer of the Nigeria Export Promotion Council (NEPC), said Nigeria and Mexico had signed a Memorandum of Understanding (MoU).

 He said this would further strengthen the relationship between both countries.

“The present administration in Nigeria is focusing on moving the country from an oil-based economy to that of manufacturing.

“This will ensure that Foreign Direct Investments (FDIs) which will come into the country are tied to manufacturing,’’ Awolowo said.


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