360° Coverage : Indian expo in Nigeria hopes to boost bilateral trade

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Indian expo in Nigeria hopes to boost bilateral trade

Dec 25 2013, 4:10am CST | by

Abuja, Dec 25 (IANS) A three-day expo of Indian products and services in neighbouring Nigeria next month hopes to return bilateral trade to its peak of $17.3 billion, from which it has marginally declined, the Indian High Commission here says.

Abuja, Dec 25 — A three-day expo of Indian products and services in neighbouring Nigeria next month hopes to return bilateral trade to its peak of $17.3 billion, from which it has marginally...

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43 weeks ago

Indian expo in Nigeria hopes to boost bilateral trade

Dec 25 2013, 4:10am CST | by

Abuja, Dec 25 (IANS) A three-day expo of Indian products and services in neighbouring Nigeria next month hopes to return bilateral trade to its peak of $17.3 billion, from which it has marginally declined, the Indian High Commission here says.

Abuja, Dec 25 — A three-day expo of Indian products and services in neighbouring Nigeria next month hopes to return bilateral trade to its peak of $17.3 billion, from which it has marginally declined, the Indian High Commission here says.

"IPASE-4 (Indian Products and Services Exhibition-4) is part of the High Commission's ongoing efforts to promote visibility of Indian products and srvices in Nigeria and encourage the concerned Nigerian stakeholders, mostly SMEs," it said in a statement announcing the January 16-18, 2014 event.

"Bilateral trade turnover was over $ 17.3 billion in 2011-12 registering a growth of over 34 per cent. During 2012-13, our exports further grew by 1.33 percent even though the bilateral trade slightly declined to $ 16.8 billion," the statement said, adding that the figure stood at $16.6 for 2013-14.

"About 25 local businesses engaged in Indian products and services in Nigeria will be displaying them at IPASE-4," the statement said. On view would be, among others, automobiles, fans, pumps, pharmaceuticals, herbal medicines, healthcare products, natural gas-based power generation equipment, electrical equipment and machinery, toiletries and cosmetics, imitation jewelry, shoes and fabrics.

The services sector would showcase telecom, insurance, IT training and software solutions, tele-medicine networking, healthcare and security solutions, as well as Indian food.

"India is currently Nigeria's second largest trading partner. With a population of 168 million and considerable revenue from oil exports, Nigeria is the largest trading partner of India in Africa," the high commission said

Nigeria is also the largest market in Africa for Indian exports, with a large number of Indian companies establishing a footprint in the country that have made substantial investments.

"In recent years, Nigeria has been one of the main sources of crude for India. Nigeria is highly important for our energy security as we import around 8 percent to 12 percent of our crude requirements from Nigeria," the high commission said.

Apart from trade in hydrocarbons, Indian presence has arrived at a critical threshold of participation in Nigeria's upstream sector and refining, it added.

IANS

Source: IANS

 
Update
11

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Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
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[Deutsche Welle]According to reports from Nigeria, Boko Haram Islamists have kidnapped dozens of women and girls. The events throw further doubt on talks supposed to result in the freedom of 200 other young women taken in April. ...
Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
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OFFICIAL: The World Health Organization Declares Senegal And Nigeria Free From Ebola

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Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
Update
7

1 day ago

UMass Dartmouth announces partnership with university in Nigeria

Oct 23 2014 12:14pm CDT | Source: University Business

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Source: University Business   Full article at: University Business
 

 
Update
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1 day ago

Africa: Super Eagles Drops in FIFA Ranking Again

Oct 23 2014 8:59am CDT | Source: AllAfrica.com

[Daily Trust]Nigeria's national football team has dropped four places in the October FIFA ranking released on Thursday morning by the World football governing bo ...
Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
Update
4

4 days ago

Nigeria: Boko Haram - The Long Walk to Ceasefire

Oct 21 2014 5:13am CDT | Source: AllAfrica.com

[Daily Independent]The Federal Government last Friday finally reached a ceasefire agreement with the Boko Haram terrorists. The Chief of Defence Staff (CDS), Air Chief Marshal Alex Badeh who announced the ceasefire at the end of the two-day Coordinating Conference on Cameroun-Nigeria Trans-Border Military Operations at the Defence Intelligence Agency (DIA), Headquarters in Abuja said has also directed all the military Servi ...
Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
Update
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Oct 21 2014 12:01am CDT | Source: AllAfrica.com

[Daily Trust]One of the 12 people treated for Ebola virus disease in Nigeria says surviving the disease has left her traumatised and stigma ...
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Update
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5 days ago

South Africa: Stolen Goods from Malls Heading to Nigeria

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[SAPA]Johannesburg -Nigeria has emerged as the destination for many of the electronic devices stolen during the recent spat of mall robberies across the country, police said on Sa ...
Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
Update
1

5 days ago

Ebola crisis: Nigeria set to be declared free of virus

Oct 20 2014 5:40am CDT | Source: The Nation - Pakistan

Abuja- Nigeria is expected to be declared officially free of Ebola very soon, after six weeks with no new cases, World Health Organization said today. Africa's most populous country won praise for its swift response after an infected Liberian diplomat brought the disease there in July. The World Health Organization officially declared Senegal Ebola-free on Friday. The current outbreak has ... ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 

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