Korea expresses desire to deepen trade ties with Nigeria

Korean envoy to Nigeria, Lee In-Tae, has expressed faith in Nigeria’s economy and reaffirmed his country’s commitment to building sustainable infrastructure in Nigeria, according to Daily Trust.

The Details: He made this statement at the Korea-Nigeria joint partnership infrastructure seminar in Abuja. The event had top Nigerian officials at the gathering, including the Minister of State for Power, Goddy Jedy Agba.

Giving further details about Nigeria’s bilateral relationship with Korea, he disclosed that trade volume rose to $2 billion in 2018.

Our trade volume in 2018 was two billion US dollars. This is a huge figure, considering that Nigeria’s GDP per capita in 2018 was about 2,050 US dollars. In other words, our trade volume was equal to GDP of nearly one million Nigerians,” he said.

I know this is an impressive figure, but we can be more ambitious. As Korean Ambassador, I would like to see this number grow much bigger,” he added.

Lee In-Tae then went on to express Korea’s desire to help Nigeria boost its infrastructure.

Imagine what Nigeria could achieve when its infrastructure becomes world-class. Nigeria would experience economic growth like no other African countries. The Nigerian people will benefit enormously from its superior infrastructure,” he stated.

He added that 14 companies were looking to invest in Nigeria.

Their construction skills and technology are one of the most advanced in the world, and they can help build sustainable infrastructure in Nigeria,” he expressed.

Minister of State for Power, Goddy Jedy Agba was supportive of the whole idea.

If Korean companies can help build Nigeria’s infrastructure, Korean companies will also contribute to the success of President Buhari’s efforts to achieve his Economic Recovery and Growth Plan,’’ he said.

The Power Minister also expressed his optimism for an improvement in the Nigerian Power sector with the strengthened Korea-Nigeria bilateral trade relations.

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