From Aidoghie Paulinus, Abuja
Iranian Mining, Industry and Trade Minister, Seyyed Reza Fatemi Amin, has said the volume of trade between Iran and Nigeria has witnessed a 300 percent growth.
The period, according to Amin, is within the last nine months of the past Persian Calendar year which ended on March 20.
“The value of trade between Iran and Nigeria reached about 125 million dollars, witnessing a 300 percent growth in the last nine months of the year 1400,” Amin said.
Speaking during a meeting with a high-level delegation from Nigeria headed by the Minister of State, Foreign Affairs, Ambassador Zubairu Dada, Amin said despite the good history of cultural cooperation between the two countries, unfortunately, the level of bilateral trade is not favorable and needed to be improved.
“The two countries are members of international organizations, including the Organization of Islamic Cooperation, the Islamic Development Bank, D8 Group which provide the necessary opportunities for further development of trade cooperation between Iran and Nigeria,”Amin stated.
During the Iran-Nigeria Trade Summit, nine cooperation documents were signed between the two countries in various fields of culture, tourism, oil, agriculture, sports and trade.
The high-ranking Nigerian delegation headed by Ambassador Dada, also had separate meetings with top Iranian officials, including the first Vice President, Mohammad Mokhber.
The delegation arrived in Tehran earlier this week to participate in the Sixth Iran-Nigeria Joint Commission. The joint commission which is held after a 7-year interval, is aimed at further improving bilateral ties and paving the way for boosting trade between Iran and Nigeria.
The Iranian trade minister also pointed to the economic capacities of Iran and Nigeria and said their economies can complete each other.
Amin also called for drafting a roadmap envisaging economic cooperation between Iran and Nigeria.
“As the first step to develop trade ties between Iran and Nigeria, It is necessary to facilitate the visits by Iranian and Nigerian businessmen via the establishment of direct flights between Iran and Nigeria,” the Iranian trade minister added.
On his part, Dada described the bilateral ties between Iran and Nigeria as “long-term and cordial.”
Dada added that Nigeria attached significance to the expansion of ties with Iran.
“Iran and Nigeria have already had good cooperation at the bilateral and international levels. Nigeria attaches great importance to its relations with the Islamic Republic of Iran because there are good potentials and capacities that if used, can serve the interests of both countries,” Dada stated.
Dada further described the participation of the Nigerian delegation in the 6th Iran-Nigeria Joint Commission in Tehran as Nigeria’s “commitment to the implementation of agreements and contracts” with Iran.
According to Dada, “Despite the cordial relations between the two countries, the bilateral economic relations are not satisfactory.”
Dada however expressed hope that the Sixth Iran-Nigeria Joint Commission will pave way for the boosting of bilateral trade between Iran and Nigeria.