Nigeria and Pakistan trade hits $1bn

The volume of trade between Nigeria and Pakistan has hit the $1 billion mark.

According to report, His Excellency, Umer Farooq, the High Commissioner of the Islamic Republic of Pakistan to Nigeria, said on Wednesday in Abuja that the improvement in trade was caused by the strong existing relations of the countries.

At the event organised to mark the national `Defence Day` of Pakistan, he said,

“My country is looking forward to improving bilateral ties with Nigeria’’.

“By December this year we hope to surpass the existing $1 billion trade volume.’’

The High Commissioner called on both Pakistan and Nigeria authorities to operationalise an already signed memorandum of understanding (MoU).

He said the implementation of the MoU would further enhance their trade development.

“I will also want to recommend for the two countries to put in place right policies that will help in operating these MoUs in various sectors of our economy,“ he said.

According to him, both countries have a lot in common as developing nations particularly in areas of agriculture, manufacturing and industry.

He expressed the optimism that with right policies in place Nigeria and Pakistan would witness rapid developments within a very short time.

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