British High Commissioner to Nigeria, Richard Montgomery, says the trade value between Nigeria and Britain, which currently stands at 7.9 billion pounds (16 trillion naira) has hit an unprecedented level.\n<\/p>\n
Montgomery made this known in an interview with the News Agency of Nigeria on Wednesday in Abuja.\n<\/p>\n
He lauded the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP)which he said boosts trade relations by removing non-tariff trade and investment barriers to foster cooperation in priority sectors.\n<\/p>\n
According to him, the ETIP, which also promotes collaboration with the Developing Countries Trading Scheme, would scale the trade value by providing generous trading terms and tariff reductions on Nigerian products.<\/p>\n
\u201cSo I\u2019m really delighted at our most recent trade figures. The 7.9 billion pounds or 16 trillion Naira trade is the highest that it\u2019s ever been between the UK and Nigeria. And so it\u2019s a very positive trajectory.\n<\/p>\n
\u201cThe enhanced Trade and Investment Partnership (ETIP) is exciting because it\u2019s a mutually agreed set of sectors and issues on which the UK and Nigeria government are going to work on.\n<\/p>\n
\u201cIt\u2019s happening under the umbrella of our respective ministers, the federal minister of industry, investment and trade, and the UK business and trade minister,\u201d he said.<\/p>\n
He added, \u201cThe exciting thing about ETIP is, and you\u2019ve used the word leverage, that\u2019s precisely right. <\/p>\n
\u201cIt identifies through mutual agreement the areas that the UK feels it has a comparative advantage in and the areas that Nigeria wants to create more economic opportunities in.\u201d\n<\/p>\n
Montgomery said the UK was not competitive in all sectors, but has major advantages in various sectors, including the financial services, new technology, financial technology, artificial intelligence and other digital platforms.\n<\/p>\n
The British envoy said that in the creative economy, his country has some advanced manufacturing and advanced energy solutions, which are worth looking at, and credible in the Nigerian context.\n<\/p>\n
He said the UK was doing a lot in higher education investments in the Nigerian education sector, as well as in the agricultural sector to boost Nigeria\u2019s agricultural exports, considering its high potential.\n<\/p>\n
\u201cSo, the ETIP identifies these priorities and we have ways of following up in each sector with the businesses and the government agencies on both sides that can unlock more investment and growth.\n<\/p>\n
\u201cThe aim is mutual growth, it\u2019s creating jobs in both our countries, and that\u2019s why it\u2019s really important that we realise that ETIP is mutually agreed and negotiated, it\u2019s in both our interests,\u201d he added.<\/p>\n
NAN\n <\/p>\n","protected":false},"excerpt":{"rendered":"British High Commissioner to Nigeria, Richard Montgomery, says the trade value between Nigeria and Britain, which currently stands…\n","protected":false},"author":2,"featured_media":144694,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-144693","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/144693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=144693"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/144693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/144694"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=144693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=144693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=144693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}