Nigeria, Turkey trade volume rises

The trade volume between Nigeria and Turkey stood at 1.3 billion dollars (N206 billion) in 2011, Dr. Herbert Ajayi, the President of NACCIMA, said today.

Ajayi, spoke at the opening of the first Turkish Products Exhibition in Lagos.

The NACCIMA President, who was represented by the Second Deputy National President, Chief Bassey Edem, said that Nigeria and Turkey had benefited from long-standing trade relations. He said that Nigeria’s main imports from Turkey were clothing, food items, engine and automobile parts, while Turkey was importing sesame seeds, raw and semi-processed leather as well as rubber.

He said that the world was gradually becoming a global village due to adoption of trade liberalisation policies by nations.

The Turkish Ambassador to Nigeria, Mr Ali Rifat, said that the exhibition was organised to demonstrate the business opportunities offered by Turkey.

Rifat said that Turkey had become an attractive country for foreign investors and was becoming the fastest growing economy among members of the Organisation for Economic Cooperation and Development.

“Our per capita income increased to over 10 billion US dollars in 2010. Turkey’s GDP is approaching one trillion US dollars level. Turkey is recognised as an emerging economy with global reach. Therefore, when you do business with your Turkish counterparts, I can assure you that you are in safe hands,” Rifat said.