France expresses readiness for improved trade relations with Nigeria in 2018

now that the problem of Forex had been settled, more French businesses

The French Ambassador to Nigeria, Ambassador Denys Gaver, on Monday said that there were already positive indications that would attract more French investors and companies to Nigeria this year.
Gaver told the News Agency of Nigeria in Lagos that especially
now that the problem of Forex had been settled, more French businesses
and investors should be expected in Nigeria.
The Ambassador, who said that Nigeria would remain France’s trading
partner in Africa, added that it was imperative for both countries to
balance their trade relations in the years ahead.
He said: “Let me say again that Nigeria is for France our first trading
partner in Africa. Nigeria currently has a positive rating for doing
business through a lot of implemented reforms.
“We hope to do much more better trade relations with Nigeria in this
year, 2018, especially now that forex is back in Nigeria.
“More French companies are happy to come and do business, as well as
invest in Nigeria as the problem of forex seems to have been overcome
in Nigeria.
“So, there is every possibility that more of our companies and investors will be coming to Nigeria in 2018.’’
Gaver also said that trade relations between both countries was not currently balanced, adding that his embassy was working out how to achieve a mutual trade balance with Nigeria.
He said that trade relations between France and Nigeria had been favourable to Nigeria, as France had been buying “so much’’ oil from Nigeria more than her exports to Nigeria.
The Ambassador, who disclosed that in trade relations between France and
Nigeria, both countries had experienced some difficulties in 2016, expressed satisfaction at the recorded increase in both countries’ trade relations in 2017.
Gaver said that it was the growing interest of French companies in Nigeria that informed the recent visit of the Movement of French Business delegation to Lagos and Abuja.
He said that the delegation was composed of 30 participant business missions,
representing large, medium and small-sized companies interested in the many
opportunities offered by the Nigerian market.
Gaver said that companies on the delegation were from oil and gas, health, transportation, aerospace, infrastructure, logistics, banking and financial services, energy, security, agro-industry and engineering sectors.
The trade volume between France and Nigeria hit 1.9 billion euros (about N668 .75 billion) in the first quarter of 2017.