The annual trade volume between Nigeria and Egypt reached $141 million today as the maiden edition of the Nigeria-Egypt Trade conference and Exhibition (NETCE) began today, 10th October 2022.
About the Event
According to the Nigerian ambassador to Egypt, Nura Rimi, in a statement made on Sunday, said that the event is put in order by the Nigeria-Egypt Cultural and Socio-Economic Forum (NECSEF) in collaboration with the Nigerian Embassy, Egyptian African Businessmen’s Association (EABA) and Cairo. He added, “the current trade volume between the two countries has reached $141 million and that Nigeria is going to work more on achieving a higher level of bilateral trade with Egypt”.
Also, according to the president of NECSEF, Mahmood Ahmadu, he stated that the event is going to welcome all delegates to NETCE 2022 from participating Nigerians to Egyptian companies showcasing their products and services and the event is going to end with an industrial tour on the 12th of October where the participants will get to learn about the industrial environment and the latest technology in Egypt as the event is themed “For Africa, By Africa” and will be exploring the African Continental Free Trade Area (AfCFTA). He added “we have had to postpone this event twice and we are excited it is happening at last and this time it is carefully organized and packed with limitless opportunities for us to enhance trade between Nigeria and Egypt to a new and envious level.
Furthermore on the Event
Rimi indicated that the event is going to be about the successful implementation of reforms promoting transparency and efficiency in the business sector, and promoting economic diversification into real sectors like mining, agriculture, and manufacturing between the two countries, Nigeria and Egypt as they are among the largest economies in Africa even though they have experienced a fluctuating economy due to political and security turmoil in the recent years