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Nigeria signs trade agreement with the Netherlands

Nigeria signs trade agreement with the Netherlands

Executive Secretary of the Nigerian Export Promotion Council, Segun Awolowo says the Netherlands buys 47 per cent of Nigeria’s Cocoa.

Awolowo who fielded questions from State House correspondents after a trade agreement between the Netherlands and Nigeria on Tuesday at the Presidential Villa, Abuja, said Nigeria needed to tap from the Netherlands’ know-how in agro-business and agro-processing.

He described the Dutch country as Nigeria's number one trading partner in Europe saying the country bought 47 per cent of Nigeria's cocoa worth 150 million dollars in  2018 alone.

He said Nigeria is  now looking at agro-processing; value addition and is doing all it could to the foreign countries buy its products particularly cocoa oil and cocoa paste.

The Executive Secretary said that Nigeria was ready and was looking at getting more competitive on its goods particularly now that the African Continental Free Trade Agreement (AFCFTA) has just been opened.

Netherlands Minister for Foreign Trade and International Cooperation, Ms Sigrid Kaag, said the agreement was as a reflection of the intention of the Netherland and Nigeria to strengthen cooperation.

She said the cooperation would be expanded particularly in the area of inclusive trade.

Also speaking, Permanent Secretary of the Ministry of Trade and Investment, Mr Edet Akpan, highlighted the gains of the agreement saying the Netherlands had shown a lot of interest in investing in Nigeria. He looks forward to welcoming as many investors as possible especially on the area of agriculture.

Vice president Yemi Osinbajo supervised the signing.

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