Lagos, November 25 – As the 2nd PAK-Africa conference and Expo rounds off today, there is no doubt that its impact will be felt beyond the new business connections made at the 3-day event…
Several Pakistani investors have expressed their interest to do business in Nigeria at the exhibition of the 2nd Pakistani Africa (PAK-Africa) Trade Development Conference which rounds off in Lagos today.
The event which kickstarted with a conference on Tuesday had several top-level government officials from the Nigerian and Pakistani governments speak on the economic relations and investment prospects in both countries.
The Nigerian Investment Promotion Commission (NIPC) made a presentation on Nigeria’s investment environment and the Commission’s provisions for facilitating investors’ entry and stay in Nigeria.
“NIPC’s Single Windows Investors’ Portal (SWIP) is one of several initiatives set up by the Commission to facilitate doing business in Nigeria,” NIPC’s Director, department of Investment Promotion, Mr Adeshina Emmanuel said at the conference on Tuesday.
“In the first phase of SWIP, which was recently launched, services offered at NIPC’s One Stop Investment Centre (OSIC) can be accessed online,” – https://swip.nipc.gov.ng.
“NIPC’s Book of States documents the competitive advantage and key investment opportunities of Nigeria’s 36 States and the Federal Capital Territory,” he said.
The 2nd and 3rd day of the event is designated to foster business-to-business partnerships (B2B) that would last beyond the event. Pakistani companies seeking business partnerships in Nigeria exhibited their products and services across several economic sectors including IT, engineering, agriculture, pharmaceuticals, textiles, chemicals, automobiles, leather, surgical products, and cosmetics.
“Nigeria is an excellent market, the demand for Pharmaceutical products is high,” said an enthusiastic Adhan Hirani, CEO of Hiranis Group of Companies, a pharmaceutical company based in Karachi, Pakistan and amongst several companies at the exhibition, looking to establish business partnerships in Nigeria.
“I am here (in Nigeria) for 10 days. I will be going to Onitsha and coming back to Lagos,” said another investor in his exhibition booth. “We have good relations with a lot of businessmen here, so we believe that it will be a win-win situation. I love the energy and prospects in Nigeria,” he said.
Historically, establishing distributor partnerships is a prominent step for companies seeking expansion into new markets. Also, Nigeria and Pakistan have a number of similarities – both were British colonies, gained independence around the same time; both are developing economies, have populations, political structure and territories of similar size.
There is no doubt that this year’s PAK-Africa conference will further strengthen economic relations between Nigeria and Pakistan.