EXIM Thailand and Nigeria’s Bank of Industry Limited agree to co-operate in the areas of information exchange and business promotion with an ultimate goal to promote Thai-Nigerian trade and investment relations.
Dr. Apichai Boontherawara (right), President of Export-Import Bank of Thailand (EXIM Thailand) and Ms. Evelyn Ndali Oputu (left), Managing Director and Chief Executive Officer of the Nigeria’s Bank of Industry Limited (BOI), signed a memorandum of understanding on the exchange of trade and investment information as well as personnel development with an aim to promote and support the Thai-Nigerian business activities at EXIM Thailand Head Office on June 3, 2008. Also present at the signing was H.E. Mr. Umaru Azores Sulaiman (center), Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Nigeria.
EXIM Thailand President added that, under this cooperation, both parties will bank on their expertise and know-how to help generate new trade and investment opportunities for the private sector while encouraging greater exchange of information that will significantly benefit economic advancement both at national and regional levels. Nigeria is the largest market in Africa, with a population of over 120 million and abundant natural resources. It is Africa’s largest producer of oil and the world’s seventh largest source of natural gas.
Nigeria is a promising investment base for various Thai business sectors including fishery and seafood processing, garment and, especially, agricultural products processing that is high on the Nigerian government’s promotion agenda. About 70% of Nigerians are in the agricultural sector. Nigeria is the world’s largest producer of tapioca. Rice and tapioca represent the country’s main staple. Moreover, Nigeria is keen on acquiring up-to-date know-how in manufacturing technology, as well as new machinery and equipment from Thailand to add value to its farm production including tapioca starch manufacturing and rice milling.