Nigeria-Korea Strengthen Economic Ties

Nigeria and the Republic of South Korea, have commenced efforts to strengthen economic ties and increase investment possibilities in ways that would benefit both nations.

Recently, the Minister of Finance, Budget & National Planning, Mrs. Zainab Shamsuna Ahmed, was recently there on the invitation of President Yoon Seok-Youl, for his inauguration as the 20th President.

The minister conveyed the greetings and congratulations of His Excellency, President Muhammadu Buhari, the Government and our great people during a meeting post inauguration.

In the meeting the ministry posted the outcome on Facebook, she said “it is worthy to note that Nigeria is Republic of Korea’s largest trading partner in Africa”… “We are optimistic that the new administration will further strengthen the already vibrant bilateral relations between both nations.”

Minister Suggests ways Nigeria Contributes to Partnership

She noted that many of the big ten companies in their country, notably, Daewoo E&C and DSME (LNG trains), Hyundai HI (FPSOs, LNG vessels and Refineries), Samsung Engineering and Samsung HI (FPSOs) Samsung Electronics (Electronics and Household appliances), LG electronics (Electronics and household appliances) and about 26 more medium companies are doing multi-billion dollar contracts and trading in our country.

She added that we are ready to host the 7th Joint Commission before the end of the year to enable trade, investment, double taxation and related bilateral agreements to be signed in order to pave way for increased bilateral trade between our two countries.”

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