Steps are now being taken by the Republic of Türkiye to increase its trade volume with Nigeria to $5 billion from the current $2 billion.
The President of Türkiye, Mr Recep Tayyip Erdogan, during a meeting with his Nigerian counterpart in Ankara on Tuesday, said the establishment of a Joint Economy and Trade Committee between the two countries would create opportunities to expand Turkish investments in Nigeria to realise the target.
The bi-continental nation presently exports aircraft, machinery, iron and steel, chemical products, fabrics, furniture and others to Nigeria, while the West African nation exports crude oil and agricultural products to Türkiye.
“Today, we conducted a comprehensive review of our relations with the esteemed President and his delegation in the fields of trade, investments, energy, education and defence industry.
“Firstly, we see that we have significant potential in the fields of trade and investment. In today’s meetings, our commitment is to the $5 billion trade volume target, and we discussed the steps needed.
“We also discussed opportunities to support our investments in Nigeria. We believe that the joint Economy and Trade Committee, which we agreed to establish today, will be instrumental in this regard,” Mr Erdogan told newsmen during a press conference yesterday.
He promised to assist Nigeria in tackling insurgency, given its history with a similar problem, saying, “Terrorist organisations emerging, particularly in Africa’s Sahel region, unfortunately, pose a threat to the peace of the entire continent. We stand by the friendly people of Nigeria in their fight against terrorism under the leadership of President Tinubu.”
“In fact, today, we addressed opportunities for closer cooperation in the fields of military training and intelligence. We stated that we are ready to share our country’s significant experience in combating terrorism.
“Also, I believe that we will soon see positive outcomes from the meetings that Nigerian officials will hold with our leading defence industry companies during this visit,” he added.
In his remarks, Mr Tinubu thanked the Turkish leader for his willingness to collaborate in promoting global freedom, stability, and prosperity.
“What is very important to the countries being discussed, trade, business, no restrictions, giving opportunity to those who are ready to learn to work and prosper. How do we build an inclusive economy together? How do we reform the economy and involve vulnerable people? How do we ensure peace in the world?” he asked.