Senegal seeks improved trade, investment ties with Nigeria

The Senegalese Government has called for improved trade and investment ties with Nigeria to boost intra-Africa trade.

The Director, Investment Promotion and Major Projects (APIX), Mr Mamadou Lamine, Senegal, made this know while speaking with the News Agency of Nigeria (NAN) on Tuesday in Lagos.

Mr. Lamine spoke on the side boundary of the ECOWAS Investment Climate Round Table that seeks to critically analyse barriers that inhibit cross-border trade in member countries.

This was a two day event and it was tagged: Improved Business and Investment Climate in West Africa is a 7.7 million Euro project funded by the European Union while the World Bank Group provided the technical assistance

Mr. Lamine said it is necessary that Nigeria and Senegal to have strong inter-connectivity. This is open doors to a new market and increase the bilateral trade between both nations for mutual economic gains.

He explained that, “There is already a strong foundation of trade relations between Nigeria and Senegal and an even stronger rationale to expand upon it.”

“Nigeria is a big market and Senegal is one of the doors through which Nigeria can use to go to North of Africa.”

“We seek to bridge the gap by facilitating dialogue, business dealings and knowledge transfer between both countries,”

He noted that sectors which wold benefit from this bilateral trade are agriculture, fabrics, financial services, machinery and oil and gas. He also mentioned that Senegal could learn from the Nigerian oil and gas industry.

“We have just discovered natural gas and would stand to benefit from Nigeria’s knowledge in the processing of natural gas,” Lamine said.

The Director said direct flight to Dakar from Lagos should be restarted to aid movement and commercial activities between the two countries. He emphasized that trade and investment between the two countries would drive growth, reduce poverty and create jobs.

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