Nigeria-German bilateral trade hits 5.5billion Euros

By Adeyemi Adepetun   |   19 November 2015   |   3:17 am  
Zenner

Michael Zenner

• European economic giant pledges support for country’s change agenda
WITH plans and promises to support Nigeria’s ‘change’ agenda, the German Ambassador to Nigeria, Michael Zenner, has disclosed that his country’s bilateral trade volume with Nigeria now stands at 5.5 billion Euros, with projections for increase in the near future.

Zenner, who disclosed this in Abuja, commended the change agenda of the Nigerian government led by President Muhammadu Buhari, adding that co-operation between the governments of Germany and Nigeria will contribute immensely to the success of the agenda.

Zenner noted that Nigeria’s investment potential remains strong even in the wake of various challenges in security, foreign exchange rates and other quandaries.

The German Ambassador expressed his country’s interest in supporting the government’s change agenda at a high-powered business luncheon for members of the Nigerian-German business community organized by Nigerian German Business Association (NGBA), Delegation of German Industry and Commerce in Nigeria (DGIC), in association with the Consulate-General of the Federal Republic of Germany, in Lagos.

The event, which was sponsored by C.Woermann, a renowned trading company based in Hamburg, Germany with a longstanding business relationship with Africa, encouraged high networkings among the various guests that graced the occasion.
While presenting a paper entitled “Nigeria in Change: New Perspectives?” Zenner highlighted the key role being played by Nigeria in promoting stability and democracy on the African continent. He spoke about the long standing relation between Germany and Nigeria and how this collaboration had led to great gains for both countries.

He noted that “Nigeria’s investment potential remains strong even in the wake of various challenges in security, foreign exchange rates and other quandaries. German trade volume with Nigeria stands at 5.5 billion Euros with projections for increase in the near future. Continuous cooperation between our countries can make the Nigerian change agenda work.”

Director-General of the NGBA, Jennifer Anoyika, who also spoke at the event, said she was confident that the Nigerian economy will soon experience improved economic activities with the renewed interest of foreign investors in the Nigerian economy.

She cited the recent influx of German companies including MAN Diesel & Turbo, Bayer Middle Africa, Bosch, BASF West Africa and others, as a sign of better times ahead for the business climate.
“In Germany, the backbone of the economy is the middle class, the Small and Medium Enterprises (SMEs). We need to embrace the German model which places emphasis on dual vocational training and SME participation as an engine for economic growth, and this is one of the core mandates of the NGBA and DGIC,” she remarked.

The luncheon, which also had Dr. Michael Blank, Delegate, Delegation of German Industry and Commerce (DGIC) in attendance as well as influential business men and women representing strong business interests within Nigerian-German business circles, was organised to discuss issues of vital interests to the economies of Nigeria and Germany.



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