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The Director of Africa Canada Trade Investment Ventures, Kenneth Oguzie, has called on Nigeria government and business owners to explore foreign businesses, especially in Canada. Oguzie made this call while briefing journalists, recently, on a two-day summit slated to be held in Canada on March 25-26, 2019.
“Canada has a long trade history with Nigeria and Africa as a whole, with bilateral trade between both countries averaging about $2.3 billion yearly since 2006. This has been projected to grow further after the bilateral trade agreement ( Foreign Investment Promotion and Protection Agreement (FIPA) signed a few years ago to improve ease in doing business between both countries. Canada’s exports to Nigeria totaled $313 million in 2016, which makes Nigeria, Canada’s third largest export destination. In addition, Irving oil, Canada refines a good chunk of crude oil from Nigeria.
“As the British, Chinese markets, etc, are getting more saturated. Businesses should consider exploring new markets, including Canada especially with their friendly trade rules. Canada also has more than 300 commercial ports and harbours for transport of goods, locally and internationally, and is also home to the world’s longest inland waterways open to shipping in addition to its sophisticated rail transport system for goods and cargo,” he said.
Oguzie, however, added that he provides expertise to businesses across regions to develop the business sector. “As an individual and the Director of African Canada Trade and Investment ventures (ACTIV), a leader in building business bridges between Canada and Africa and connecting businesses, we provide business expertise to businesses across both regions as a result of our extensive and in-depth knowledge and understanding of both markets, including regulations, culture and access to decision makers within the private sector as well as government,” said Oguzie.
