Iran to improve on trade volume with Nigeria

Indications have emerged that Iran has initiated steps to address its trade volume with Nigeria. The Iranian Ambassador to Nigeria, Mr. Saheed Koozechi, while speaking ahead of the 5th session of Nigeria-Iranian Joint Commission held last year, lamented the annual volume of trade between both countries, which was less than $50 million. The envoy blamed the low level in trade between the two countries on “negative psychological perception about Iran’’ from some Nigerian businesses, occasioned by the UN sanctions because of its nuclear programme.

Part of efforts to halt the trend on the part of Iran, it was gathered, is a forum slated for next week in Lagos. Tagged: “First Iran Solo Exhibition in Nigeria,” the exhibition will hold at the Landmark Center, Lekki in Lagos. Koozechi said that the exhibition would feature over 40 Iranian companies in manufacturing, oil and gas, building and construction, infrastructure, health, furniture, interior decoration, and food industry. The exhibition, which is sponsored by the Embassy of the Islamic Republic of Iran, is organised by Pars Rastak International Conferences, Exhibition Research Services in partnership with the Nigeria Iran Business Council (NIBC), Nigeria Association of Chambers of Commerce, Mines, Industry and Agriculture (NACCIMA), Nigeria Investment Promotion Council (NIPC) and the Nigeria Export Promotion Council (NEPC).

Speaking on the exhibition, the Iranian envoy noted that the exhibition was designed to expand trade relations with Nigeria. He said, “This exhibition will open doors of opportunities for both Iranian and Nigerian companies and businesses. It will help to identify each other’s capacity in order to deepen trade relations between the two countries. “Right now, Iranian companies do not know the opportunities available in Nigeria and Nigeria is a very big market, especially with its big population and resources.”

Iranian and Nigerian officials, it would be recalled, met in Tehran to underline the need for further expansion of mutual cooperation. During the meeting in the Iranian capital, Head of the Iranian Parliament’s Agriculture Commission, Abbas Rejayee, explored avenues for bolstering and reinvigorating bilateral ties, especially in agricultural fields. Rejayee said: “Iran and Nigeria are two important and influential countries in two regions of the Middle East and West Africa and their cooperation can produce considerable interests for the two nations.”