NIGERIA TO PARTNER WITH COUNTRIES OF LATIN AMERICA AND THE CARRIBEANS TO PROMOTE INVESTMENT

Nigeria and countries in Latin America and the Caribbean, namely Cuba, Argentina, Mexico, Trinidad & Tobago, Brazil, Jamaica and Venezuela have agreed to partner and work together to promote investment and trade in their respective countries.

The cooperation was announced on Thursday February 17, 2011 in Abuja at a meeting held by the Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Engr. Mustafa Bello and Ambassadors and representatives of the various countries.

The meeting which was at the instance of the Ambassadors was intended to foster closer working relation between the NIPC and the embassies of the Latin America and the Caribbean countries in Nigeria.

The Executive Secretary of NIPC, Engr. Mustafa Bello stressed the need for Nigeria to look at the countries in the region to promote its abundant investment opportunities and facilitate the inflow of Foreign Direct Investment (FDI) into the country. He said as an emerging markets the country needed to promote its opportunities in order to add value and ensure the growth of its economy.

He said “We want to look at your region to mobilize investment to the country…to agree with you on what is best for our countries”, adding “to also be part of what is happening in your respective countries”.

The NIPC Chief Executive Secretary also spoke of the need for the Commission to have an interactive meeting with the existing investors from their region in the country in order to intimate them of the activities of the One Stop Investment Centre (OSIC) in the Commission and also to appreciate challenges they faced in the course of doing business in Nigeria.

He stated the Commission offers several services which some investors are not aware of, “as such there is the need for us to meet and interact with investors from the Latin America and Caribbean in the country at an interactive forum”. He therefore called on the Ambassadors to arrange for an appropriate time for the meeting to take place in either Abuja or Lagos.

Engr. Bello also called for closer collaboration between the embassies and the Commission in order to exchange useful information about their respective countries and reduce to its barest minimum the wrong perception being peddled by the western media and to share experiences in order to advance the growth of their economies.

Earlier the Leader of the delegation, the Cuban Ambassador to Nigeria, Mr. Elio Davon Olivia commended the Commission for initiating the meeting, stressing that there is the need for Nigeria and countries in Latin America and the Caribbean to forge a common front to promote their economic development through investment and trade.

He spoke of the need to improve the economic and bilateral relations and promote the abundant investment opportunities in their respective countries, adding “we also need to share our experiences and provide up to date information about our economies”.

The meeting was attended by Argentina Ambassador to Nigeria, Maria Suzzana Patoro, Jamaica Ambassador to Nigeria, Mr. Robert Miler, Mexican Ambassador to Nigeria, Mr. Luis Alberto Barrero Stahl, the High Commissioner of Trinidad & Tobago, Mr. Colin Connelly, Representative of Brazilian Ambassador, Mr. Leonard Satana.

 

Joel Attah