Nigeria, Bangladesh trade relationship hit $65.89 million in 2021 ― NSC

The Nigerian Shippers Council (NSC) has disclosed that the trade relationship between the country and Bangladesh produced a revenue inflow of over $65.89 million for both countries in 2021.

Speaking in Abuja while receiving the High Commissioner of Bangladesh, the Executive Secretary of NSC, Emmanuel Jime said Nigeria and Bangladesh are members of D8 countries.

“D8 countries want to improve their position in the world economy, expand and create new opportunities in the field of trade, as well as living standards of member countries.

“In this regard, there has been a robust trading relationship between Nigeria and Bangladesh which in 2021 was $65.89 million according to COMTRADE DATABASE”.

Jime explained that the income flow was in the areas of import of plastic, textile, pharmaceutical, rubber and machines. Also, export from Nigeria to Bangladesh in areas of solid minerals and vegetable products.

He solicited the expertise of Bangladesh in the Infrastructural development of the councils in projects like the Export Warehouses and the Inland Dry Port.

“Indeed, private sector participation is essential if investment in transportation infrastructure is to truly experience an upturn. Presently, 90 per cent of investment in the nation’s transport infrastructure currently rests on public investment.

“However, where private investments are combined with government resources, under a sustainable regulatory and policy regime, it can be reasonably expected that these combined resources would catalyse an infrastructure renaissance.

“May I invite you to look at these areas critically and engage relevant Stakeholders with a view of investing in areas of your choice,” he said.

On his part, the High Commissioner of Bangladesh to Nigeria, HE. Masudur Rahman seeks partnership with the country in the area of ship-making.

He said Bangladesh was the second highest in ship making in the world, noting that Nigeria with many rivers would benefit tremendously from such a partnership.

Rahman expressed the readiness of Bangladesh to partner with Nigeria in the development of Inland waterways and other areas of interest.

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