The British High Commission in Nigeria and the Nigeria Export Promotion Council (NEPC) have signed a Memoranda of Understanding (MoU) to increase non-oil export to European markets.
The NEPC’s Executive Director, Mr. Olusegun Awolowo, said under the MoU, the UK Government through the Prosperity Fund Global Trade Programme (GTP) 2019 to 2021, would provide Nigeria with technical assistance to boost economic growth and combat poverty for sustainable development.
Awolowo said the MoU will be implemented through capacity building aimed at preparing Nigeria businesses to effectively trade efficiently with the world.
He said trade among Nigeria and the UK had been dominated by oil export which has not made any significant impact on the development of the country’s economy.
He said despite the huge potentials that exist in the non-oil export sector, UK and Nigeria are yet to optimally exploit this opportunity.
Acting British High Commissioner to Nigeria, Gill Atkinson, said the Global Trade Programme is funded by the UK Prosperity Fund to provide Technical Assistance and support to facilitate free trade and open market for target middle income countries such as Nigeria, Brazil, Mexico, South Africa, Indonesia, Vietnam, Turkey, China and India.
She said the overall objective is to forge a strategic collaboration towards increasing bilateral trade between Nigeria and UK.
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