Post by Trade facilitator on Dec 8, 2012 21:20:38 GMT 1
The United States government has pledged its continued support for Nigeria, especially in the non-oil exports towards improving the country’s economic growth and development.
Assistant Secretary of the United States Trade Representative, Ms. Florizelle Lizer, while briefing the press after the 7th Nigeria-US Trade and Investment Framework Agreement, (TIFA) Council meeting in Abuja on Monday, said the improvement would mostly affect the non-oil exports.
Lizer, who gave the trade volume between Nigeria and the United States as $39billion said the two countries have renewed their commitments towards increasing the economic, trade and investment relationships.
The Assistant Secretary also said the total U.S. imports from Nigeria in 2011 were $33.7 billion, representing a 10.6 per cent increase from 2011 and accounted for 1.5 per cent of total U.S. imports during the period.
She said: “Nigeria is one of the important countries in the sub-saharan Africa”, adding that the country “plays important role in economic and political development of the entire African region”.
The Assistant Secretary therefore promised that the US would work with Nigeria to enhance the current level of trade and investment between the two countries.
She listed the areas of interest by the US in Nigeria as the agro-allied, health, trade, exports, pledging to assist the country in meeting its full potentials, particularly in getting at least 67 per cent investment every year.
Also speaking, the Minister of Trade and Investment, Olusegun Aganga said given the current global economic meltdown, trade and investment remained the only potent tool for achieving sustainable and inclusive economic growth globally.
Aganga added that there was a need for Nigeria and the United States to deepen their trade and investment relations, especially in the areas where both countries had comparative and competitive advantage.
Aganga said, “In terms of Foreign Direct Investments, Nigeria is now the number one investment destination in Africa; having recorded FDI inflow of $8.9 billion in 2011, about 16 per cent of Africa’s total, estimated at $55billion”.
Source: www.peoplesdaily-online.com/index.php/business/business/commerce-industry/9848-us-pledges-support-for-nigeria-s-non-oil-exports
Assistant Secretary of the United States Trade Representative, Ms. Florizelle Lizer, while briefing the press after the 7th Nigeria-US Trade and Investment Framework Agreement, (TIFA) Council meeting in Abuja on Monday, said the improvement would mostly affect the non-oil exports.
Lizer, who gave the trade volume between Nigeria and the United States as $39billion said the two countries have renewed their commitments towards increasing the economic, trade and investment relationships.
The Assistant Secretary also said the total U.S. imports from Nigeria in 2011 were $33.7 billion, representing a 10.6 per cent increase from 2011 and accounted for 1.5 per cent of total U.S. imports during the period.
She said: “Nigeria is one of the important countries in the sub-saharan Africa”, adding that the country “plays important role in economic and political development of the entire African region”.
The Assistant Secretary therefore promised that the US would work with Nigeria to enhance the current level of trade and investment between the two countries.
She listed the areas of interest by the US in Nigeria as the agro-allied, health, trade, exports, pledging to assist the country in meeting its full potentials, particularly in getting at least 67 per cent investment every year.
Also speaking, the Minister of Trade and Investment, Olusegun Aganga said given the current global economic meltdown, trade and investment remained the only potent tool for achieving sustainable and inclusive economic growth globally.
Aganga added that there was a need for Nigeria and the United States to deepen their trade and investment relations, especially in the areas where both countries had comparative and competitive advantage.
Aganga said, “In terms of Foreign Direct Investments, Nigeria is now the number one investment destination in Africa; having recorded FDI inflow of $8.9 billion in 2011, about 16 per cent of Africa’s total, estimated at $55billion”.
Source: www.peoplesdaily-online.com/index.php/business/business/commerce-industry/9848-us-pledges-support-for-nigeria-s-non-oil-exports
