Nigerian and European business leaders, policy makers and institutional stakeholders will converge on Abuja on July 2, to identify and explore investment opportunities along specific value chains during the ninth European Union-Nigeria Business Forum.
The EU Ambassador to Nigeria and ECOWAS, Samuela Isopi, made this known to newsmen on Sunday in Abuja.
Isopi said the business forum will also facilitate trade, investment, and partnerships through networking, discussions, and policy shaping, to promote economic cooperation between the EU and Nigeria and stimulate sustainable growth for both parties.
“It is important to note that for the first time since its inception, the 2024 edition of the EU-Nigeria Business Forum will be held in Abuja.
‘This will provide an opportunity for the EU, its Member States and the private sector from Europe and Nigeria to engage the new administration on their investment agendas in a transparent and inclusive manner, with a view to fostering confidence and commitment to a stronger and sustainable partnership.”
As part of the EU Global Gateway Strategy, she explained, EU-funded projects will complement private sector investment in areas, which bring about critical social, economic, and environmental sustainability.
In the case of Nigeria, she said, particular attention is paid to the harnessing of local talent, particularly among youth and women, as well as economic, social, and environmental resilience.
Against this backdrop, she also said that the forum will focus on current and prospective investment in the digital, health, and agricultural sectors.
According to Isopi, the forum will discuss options and respective benefits towards establishing a bilateral legal framework between the EU and Nigeria, bringing certainty, stability, and sustainability to bilateral trade and investment relations.
The latest statistics have shown that Nigeria and European Union trade volume has grown to 45 billion Euro.
The statistics showed that this was the case as at September 2023, even as the United Nations COMTRADE database indicated that Nigeria remains EU largest trade partner, accounting for 20.9 per cent of Nigeria’s global trade.
The EU is made up of 28 European countries, though there are 50 countries considered European.