Trade volume between Nigeria, Belgium rises by 30% in four years

The Nigerian-Belgian Chamber of Commerce (NBCC) says trade volume between the two countries increased by 30 per cent in the last four years. Ms Paullette Van-Trier, President of the chamber, disclosed this to newsmen on Tuesday in Lagos. Van-Trier said that Belgian exported goods to Nigeria worth 2.01 million Euros in 2013, compared with 1.48 million Euros recorded in 2012. She also said that the volume of imports between both countries, which included mineral products, foodstuffs, live animals and works of arts, stood at 73,481.5 million Euros in 2013, as against 70,695.8 million Euros in 2012. According to her, the deficit in trade volume between both countries and the consistent growth of the Nigerian economy attracted Belgian investors seeking investment opportunities in the country.

“This renewed interest in Nigeria is buoyed by the robust economic growth figures over the last years and the fact that it is now the largest economy in Africa with a huge potential.

“As Belgium is the third largest importer from Nigeria, it is the right time for diversification and more sustainable structure of the Belgian trade,’’ she said.

Van-Trier said that the investors, which included a delegation of fifty Belgian companies, would be in Lagos and Abuja, between June 1 and June 6, in search of business partnerships with local entrepreneurs.

She said that the investors would focus mainly on Small and Medium Enterprises; with the aim of leveraging the businesses through technical knowledge transfer and financing.

The delegates would also explore business opportunities in the power, transport, construction, health, and agricultural sectors of the economy. The trade delegation would be led by the Flanders Investment and Trade, a Belgian company, with the support of the NBCC.