The volume of bilateral trade between Nigeria and France has hit over 5.6 billion Euros, signifying an increase in the number of French companies operating in the country.
This is even as the French government has promised to help Nigeria wade through the present economic challenges with increased symbiotic relationship.
Speaking at a press conference organised by the Franco-Nigerian Chamber of Commerce and Industry (FNCCI), at the French Embassy in Lagos yesterday, the Head of the Regional Economic Department and Economic Counsellor of France’s embassy in Nigeria, Mr. Francis Widmer, said France would be going for a double in 2016, as more French companies would be coming into country for various investment portofolio.
He said France was looking to increase it tentacles through the Foreign Direct Investment (FDI) approach it has adopted rather than Foreign Portfolio Investment (FPI) approach, which would lead to promotion of more business collaborations between the two countries.
Widmer, said most of the new companies would be looking at agro businesses, and other services as part of supporting the Nigeria government to succceed in her diversification from oil sector.
He said there are over 50 companies from France operating in the country, with more showing interest in doing business with Nigerians, hence the need to encourage business men from both countries.
The Consul General of France’s Embassy in Nigeria, Mr Laurent Polonceaux, said that despite the economic diversification and challenges, the best way to deal with it was to share information, technology and ideas, which is why the embassy is supporting the Chamber to engage more businesses.
Polonceaux said the consul was ready to do its best to facilitate business and make it easier for those who want to go to France to do business, which is why Business France has been set up at the embassy to promote trade between France and Nigeria to aid the chamber becoming the flagship of business relations.
The General Manager, FNCCI, Mrs. Esther Gambe, said the chamber, formed in 1985 with the mission to foster trade and investment relations between the two countries, has over 200 member organisations and belongs to a global network of over 27,000 members in about 183 France’s Chamber of Commerce all over the world.
Gambe said one of the objectives of the chamber going forward, was to ensure that Nigerian business men and women get to establish their business in France to even the number of well established French businesses in the country and all hands must be on deck to see it happen.
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