President Tinubu seeks stronger trade relations with South Korea, says Nigeria's market huge and open to South Korean companies
Abuja, 19 April ( Epicstorian News)- President Tinubu communicated to the Ambassador of the Republic of Korea to Nigeria the need for the establishment of strong Trade relations between Nigeria and south Korea on Friday, declaring Nigeria’s market to South Korean companies.
The president highlighted the importance of this economic relationship, while receiving a letter of credence from the Ambassador of the Republic of Korea to Nigeria, Vice-Admiral Kim Pan Kyuat, at the State House.
Emphasising on the role of Nigeria in Africa’s economic progress and its wider market contributions to the global outlook of the African continent, president Tinubu endeared the ambassador to encourage South Korean companies to bring their manufacturing plants to Nigeria.
He noted that Nigerian products are one of the best in Africa, and hence will be beneficial to South Korean markets.
”I am glad that you have a very good knowledge of Nigeria and appreciate the role of our country in Africa.
“Our doors are open for economic opportunities and trade, and I acknowledge that several South Korean companies and products are firmly entrenched in the Nigerian market,”President Tinubu said.
”Nigerians appreciate South Korean technology, and Nigerian products can also be beneficial to South Korean markets. You need to bring more of your companies and manufacturing plants here.”
He also discussed other areas of opportunities available to South Korean investors, noting that this will strengthen Nigeria’s bilateral relations with South Korea.
“We have everything your industries require to excel as we progress over the near-term. We can partner on skill development and the systematic transfer of knowledge to further empower our country’s innovative youth population.
”We have investment opportunities in the solid mineral sector and other areas, and cooperation in these areas will strengthen our bilateral relations.”
President Tinubu, pledging to ensure the effective outcome of his discussions with President Yoon Suk Yeol on cementing lasting economic cooperation at the G20 Summit in New Delhi , 2023, further reiterated his commitment to building bilateral ties with South Korea.
He welcomed an invitation from President Yoon to attend the first-ever South Korea-Africa Summit from June 4 to June 5, 2024, in Seoul, South Korea, and directed Nigeria’s Ministry of Foreign Affairs to keep him abreast of the matter.
The Foreign Ambassador, Kim Pan Kyuat, while reading a letter of invitation from president Yoon, praised President Tinubu’s efforts and cogent role in promoting peace and democracy across all ECOWAS member states,
”Your Excellency’s visit to South Korea for the Summit will provide an excellent opportunity to strengthen the relations between the two nations,” the Ambassador said.
Other countries ambassadors from whom President Tinubu also received letters of credence were Ambassador Antit Mohsen of Tunisia and High Commissioner Muhali Imbuwa of Zambia.
Earlier meeting with both African countries’ ambassadors, the President called on the need to strengthen African unity and brotherhood that not only creates economic opportunities but also works toward eliminating conflicts across the continent.
”We are ready to explore more areas of cooperation that promote African brotherhood and ensure sustainable growth across different sectors and provide economic opportunities for our citizens,” the president said
”Our doors are open, and do not hesitate to bring any challenges you may have in the course of your duty to the Ministry of Foreign Affairs.”
The president , in a separate meeting with the Tunisian Ambassador, stressed Nigeria’s willingness to strengthen partnership with Tunisia and other countries in the North African region of the continent.
Antit Mohsen, the Tunisian ambassador, said his government welcomes Nigeria’s “economic reforms” and have seen its milestone progress in pursuing “national security”.
”We welcome the economic reforms and the enhancement of national security in Nigeria under your leadership,” Antit Mohsen told the president.
”Because of what we have seen, we are emboldened to collaborate on a new level, particularly in the areas of trade, economy, and defence,” he added.
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