PCCI welcomes Nigerian business mission

February 3, 2015 3:31 am 

MANILA, Feb. 2 — The country’s largest business organization, Philippine Chamber of Commerce and Industry (PCCI), has received a business mission from Nigerian companies on Monday.

The four-day visit of Nigerian business delegates in the Philippines eyes to strengthen economic ties of the two country through a memorandum of understanding with PCCI.

The business mission is composed of 30 delegates both from government and business community in Nigeria.

The Nigerian firms are looking for local partners in the sectors of maritime, tourism, healthcare, oil and gas, power and alternative energy, business process outsourcing, housing and mall construction, among others.

PCCI Chair Miguel B. Varela, in a business luncheon meeting with the Nigerian delegation at PCCI headquarters in Taguig City, noted that the visit of Nigerian firms here affirms efforts of both countries to strengthen bilateral relations.

Varela said that trade between the Philippines and Nigeria in the past years has been sluggish despite efforts of the two countries to boost trade.

He mentioned that the Philippines and Nigeria shall push strengthening economic ties as both countries are now experiencing boost in their economies.

“Since 2013, Nigeria has been on the way to becoming Africa’s largest economy with a 7.4 percent growth in GDP (gross domestic product). Investments in oil and natural gas remain impressive. Likewise, there have been favorable improvements in the agriculture, trade and services sectors. The Philippines has a lot to gain from this,” he said.

“On the other hand, there are also a lot to explore about the Philippines in terms of investments. In 2014, our GDP grew by 6.1 (percent). While this is a slowdown from the average of seven-percent-and-above between 2010 and 2013, our GDP growth is nevertheless still second only to China in Asia. And this despite the fact that we are have been visited by various natural calamities,” he added.

“If both our countries capture these positive gains and turn them into solid investments, we are on our way to a robust bilateral trade,” he pointed out.

The PCCI official said Nigerian firms can consider investments here in sectors of agriculture, construction, power and energy, tourism, mining and real estate as well as trade in food products, fresh fruits and vegetables, furniture and wood based products, garments and textiles, construction materials, health and beauty care products, fashion accessories, leather goods, machineries and equipment, gifts and home décor. (PNA)

LGI/KMC/SSC

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