Turkish Ambassador Calls for Enhanced Nigeria-Türkiye Economic Partnership
The Ambassador of the Republic of Türkiye to Nigeria, Mehmet Poroy, has emphasized the urgent need for both nations to intensify their collaborative efforts to elevate bilateral trade to a target of $5 billion. During an official visit to Kaduna, Poroy engaged with officials from the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA), where he highlighted that the current trade volume of approximately $2 billion falls significantly short of its true potential.
Current Trade and Investment Figures
Ambassador Poroy disclosed that the existing bilateral trade between Nigeria and Türkiye stands at around $2 billion, with Turkish investments in Nigeria estimated at $400 million. He pointed out that Nigeria, as one of Africa's largest economies, offers extensive opportunities for Turkish investors, and the current figures do not adequately reflect the vast economic possibilities available.
"The engagement with KADCCIMA has been highly productive, marking the start of deeper collaboration and future discussions focused on specific sectors," Poroy stated. He stressed that strategic partnerships between government authorities and private sector players in both countries are essential for achieving shared economic objectives.
Mechanisms for Strengthening Cooperation
The envoy outlined several key initiatives to foster business relationships and facilitate trade expansion:
- Utilizing trade fairs and business delegations to enhance bilateral engagements.
- Implementing regular bilateral meetings to address challenges and propose solutions.
- Establishing a Joint Economic Trade Commission framework to monitor progress annually.
Poroy also assured Nigerian business stakeholders of improved visa processing, noting that business visas to Türkiye can now be obtained within days to streamline and ease business engagements.
Historic Visit and Future Prospects
Alhaji Farouk Suleiman, President of KADCCIMA, described the ambassador's visit as historic, as it represents the first engagement of its kind in over 15 years. This milestone underscores the renewed commitment to strengthening economic ties between Nigeria and Türkiye, with a clear focus on reaching the $5 billion trade target through sustained cooperation and strategic initiatives.
