Nigerian Brazilian Chamber of Commerce plan trade ties

The Nigerian-Brazilian Chamber of Commerce and Industry has proposed high level meeting between relevant public and private institutions of both countries. This is with a view to developing policies and institutional frameworks for industrial cooperation, trade and transfer of technology.
This was disclosed to members of the Chamber by the executive secretary, Mr. J.A. Olomo at the Chamber’s annual general meeting in Lagos on Tuesday.
The chamber plans at local level to organise seminars and luncheons where prominent business people will be invited as guest speakers.
In addition, the secretary said, the chamber a scheme to provide information concerning supply and technology, human skills, finance, markets and consultancy services.
To achieve this, the chamber hopes to serve as a forum for facilitating contacts among entrepreneurs of both countries. In pursuance of this objective, the secretary told members, a magazine will be published within the next few weeks which will contain information on business contacts in Brazil.
Subsequently, it will provide trade leads by identifying trade and investment opportunities.
The secretary further said that services the chamber will provide for members include trade leads, through identification of the investment opportunities. Assisting buyers and sellers through financing joint venture investments, letters of credit, insurance formalities.
Others are providing to date trade and investment information from qualified sources, organisation of missions, exhibition and conferences, market research; promotion of cultural exchange.
Nigeria-Brazil trade relation has been on the increase since the 70s. Import from Brazil rose from N0.74 million in 1970 to N68.468 million in 1986 it fell to N83.30 million.
Export which stood at N17.576 million in 1970 fell off to N0.028 million in 1975, rose to N59.176 million in 1976 and further rose to N5.24 million in 1985 before falling to N73.20 million in 1986.
The chamber has however elected its officers for the current years. They are Chif Areoye Oyebola, President; Major-General Ibrahim Aruna, Vice President, Mr. A, Menge Vice President and Mr. T.A, Yesufu Vice President.
Others are Mr. F.A. Aderibigbe, Treasurer, Mr. V.O. Odogwu Director, Chief C.O. Ogunbanjo Director, Mr. V.O. Ola, Director, Mr. R. Aliu, Director.
Special members are Mrs.O.O. Oshodi, Chief Igbinedion, Alhaji M.O. Utallab, Col. Makanjjuola. To serve as patrons are Chief D.A. Bolaji, Otunba TOS Benson and H.E.A. Galvao.