Nigerian Ambassador Ayodeji Oyodele has called for sector-specific measures to increase the bilateral trade between Pakistan and his country, saying both have a huge potential but very little trade and economic cooperation. The diplomat was leading a delegation, during a meeting of All Pakistan Business Forum (APBF) on Friday, where President of the APBF, Ibrahim Qureshi was also present, lauded the Forum role in removing the bottlenecks in the way of promotion of business. "A lot has yet to be done for the economic well-being of the country and its people."
He said, "The low volume of the bilateral trade demands extraordinary efforts from businessmen of the two countries." He also invited Forum members to enter joint ventures with their Nigerian counterparts in agriculture, energy and manufacturing. Senator Doctor Aliyu Magatakarda Wamakko, who was also accompanied the delegation, said, "The economy has become the most modern warfare gadget of the present day world and the only economically strong countries would have a role in coming days."
He then urged the Forum for regularly exchanging business delegations since, he said, it provided great opportunities for match making and strengthening the business relations across the borders. "These efforts cause the much needed stimulus in economic activities which results in more employment generation and economic development." He also appreciated Pakistan's liberal investment policies and incentives being offered by the country for investment in livestock, textiles, dairy farming, agriculture and energy.
Forum President Qureshi called for removing all barriers to trade among Muslim countries, saying, "The creation of free trade among the Organisation of Islamic Countries (OIC) will increase trade among them. The world is facing several challenges, including poverty, hunger, terrorism, global recession, and natural disasters. The Islamic world is not immune to those challenges and should come together to tackle them by encouraging trade with one another."
He also urged frequent trade exhibitions and interaction between trade associations and Islamic governments, saying, "Presently, Pakistani merchandise is going to 215 countries but 80 percent of the total trade is with only 15-20 countries that should be expanded. The Pakistan-China Economic Corridor will usher in a new era of economic development for the whole region as it would not only benefit Pakistan and China but the Middle East, Central Asian Estates and other neighbouring countries as well."