The Nigeria Ambassador to France, Modupe Irele, says the Nigerian-France Investment Forum will create a platform to boost trade relationship between both countries and an opportunity for more French investors in Nigeria.
The Ambassador said this during a news briefing to begin the three-day Business and Investment Forum, holding from June 19 to June 21 in Abuja.
She said the Nigeria-France Business and Investment Forum is an initiative that was established on Oct. 1, 1960, with the aim of strengthening trade relations between both countries.
Irele said that in 2018, both countries recorded business worth of over four billion Euros in bialateral trade, which makes Nigeria a leading trade partner with France in the Sub-Saharan Africa.
According to her, there is already a good economic relationship between both countries, but there is a need to take the relationship further.
“What we have noticed in France is that the country has lots of interest in Nigeria, but it remained at interest. So, we want to bring these companies who have shown interest in Nigeria so that they can move from talk to action.
“When we talk about trade between two countries, it is a two-way relationship; it is trade that will benefit them and that will also benefit us.
“The objective of the forum includes facilitating the ease to do business in Nigeria for French countries and investors through engagements with top economic policy makers and regulators in the country.
“It also includes providing a platform for interaction between prospective French investors and Nigeria’s High Level economic policy makers as well as business regulators.
“It will spotlight various business opportunities in various parts of Nigeria and promote the country’s attractiveness as a major investment hub in Africa.
“It also aims to create an enabling environment for business to business networking between French investors and Nigerian businesses seeking foreign partners.
“It will support the Federal Government economic diversification policies and foreign direct investment drive,” Irele said.
According to her, 25 French companies and business groups from different sectors will be participating in the Business and Investment Forum.
Some of the companies were from sectors of interest, including refined petroleum, pharmaceutical, mechanical, electronics, ICT, agricultural products, medical field, entertainment, film and music industry, amongst other sectors.
The participating companies include: LAFAAC, the Franco-Anglophone Academy of Audiovisual Arts and Cinema (Entertainment and Creative Arts); METSO France SAS (Engineering machines and construction equipment manufacturer).
Others are JLJ Energie (Renewable energy) and ALSTOM (Rail transportation equipment
