Home » Africa: Nigeria, Tunisia bilateral trade volume reaches $18 million (149%) growth rate in 2022

Africa: Nigeria, Tunisia bilateral trade volume reaches $18 million (149%) growth rate in 2022

by Atqnews
0 comment

Trade volume between Nigeria and its north African counterpart, Tunisia has witnessed significant increase in 2022 reaching $18 million dollars with 149% growth rate higher than its 2021 trade figures of $8 million.

Mr Riadh Attia, Deputy General Manager Of Tunisian Export Promotion Center disclosed this while speaking at the maiden edition of AFTRITrade B2B 2023 held in Abuja recently.

He said, Tunisia’s exports to Nigeria primarily include commercial vehicles, plaster, calcium carbonate, olive oil, sweet biscuits, and Tunisian caps adding that Nigeria primarily supplies Tunisia with cotton float, glass, ginger, cabinets, and plastics.

READ: News: AFRITrade B2B to create a synergy among African Businesses to enhance trade

According to him, the trade potentials between both countries is yet to reach its full potentials adding that there are substantial untapped opportunities for expanding trade and investment in various sectors, including agri-food, building and construction materials, ICTs, renewable energy, textiles, and more.

He said: “This forum, along with the subsequent panel sessions and B2B business meetings, demonstrates the organizers’ unwavering commitment to strengthening economic cooperation and fostering long-term partnerships among all African nations within the framework of the AfCFTA agreement.

“As we gather here today in the spirit of cooperation and collaboration, it is crucial to acknowledge the pivotal role that intra-African trade will play in shaping the future of sustainable development for our continent.

Regarding the economic cooperation between Tunisia and Nigeria, I am delighted to highlight that bilateral trade figures have witnessed significant growth.

READ: News: At AFRITrade B2B, Namibia expresses interest in Nigeria’s agro-products import to meet local demand

“In 2022, the trade volume reached $18 million, a substantial increase from $8 million in 2021, reflecting a remarkable growth rate of 149%.

Tunisian exports to Nigeria primarily include commercial vehicles, plaster, calcium carbonate, olive oil, sweet biscuits, and Tunisian caps. Conversely, Nigeria primarily supplies Tunisia with cotton float, glass, ginger, cabinets, and plastics.

“However, we firmly believe that the trade volume between our two countries has not yet reached its full potential. There are substantial untapped opportunities for expanding trade and investment in various sectors, including agri-food, building and construction materials, ICTs, renewable energy, textiles, and more.”

Mr Riadh Attia stated that Tunisia, is strategically located at the crossroads of Europe, Africa, and the Middle East, and serves as a gateway for trade and business opportunities.

“With a proven track record of excellence across various sectors, Tunisia consistently meets international quality standards, enabling exports to numerous markets in the Middle East, European Union, and the USA.

“Moreover, Tunisian products and services have a strong presence in many Sub-Saharan African countries, where we proudly maintain significant economic and trade partnerships.”

He further recommended that for trade in the continent to fully develop between African countries, certain measures need to be taken such as:

● Intensify market research to identify new opportunities in trade and investment based on the specific supply and demand of each country.
● Foster collaborative networks between businesses.
● Organize regular bilateral and multilateral trade missions.
● Encourage the organization of trade shows and exhibitions between African countries.
● Establish institutional cooperation between export agencies and chambers of commerce and industry.

You may also like

Leave a Comment

ATQnews.com

ATQnews.com® a member of Travel Media Group is the online platform for African Travel Quarterly (ATQ), the first travel magazine in West Africa which solely focuses on travel and tourism issues. 

ATQNEWS

Latest News

ATQNEWS @2024 – All Right Reserved.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00