Why Is Nigeria So Important to Egypt?
Why is Nigeria reluctant to do business with the Pharaohs?
Your guess is as good as mine. But the Egyptians are not happy about it.
Egyptian ambassador-designate to Nigeria, Mr Assem Hanafi, said it concerns him that the volume of trade between Nigeria and his country remains significantly low.
Hanafi, who was speaking on Monday in Abuja, when he paid a courtesy visit on the President of Abuja Chamber of Commerce and Industry, Tony Ejinkeoyen said Egypt is willing to do more business with Nigeria.
“My target is to see ways and means to boost trade and investment between Nigeria and Egypt, two biggest countries in Africa with huge potentials and population.
“The volume of trade between Nigeria and Egypt is not very big and this is another sad story of intra-African trade relations. That is why I am here to promote our trade relations.
“The intra-African trade only constitutes 15 percent of the overall African trade with outside.
“So we are eager to multiply the current volume which approximately is $100m plus, it is not something really reflecting the potentials of the markets of both countries,” Hanafi said.
He attributed the problem of low trade volume between the two countries to the culture and tradition of African countries not importing from within Africa but from Europe and America.