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Speaker Calls For More Trade Between Nigeria, S/Korea

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The Speaker of the House of Representatives Tajudeen Abbas, has called for more trade and technological relationship between Nigeria and the Republic of South Korea.

He particularly called for more investment by the Asian country in Nigeria’s energy and mining sectors.

Abbas made the call when a delegation from the South Korean Embassy to Nigeria and the 21st National Assembly of the Republic of South Korea visited him at his office in Abuja to seek Nigeria’s support for the Asian country’s World Expo 2023 hosting bid.

On the delegation were the Ambassador of South Korea to Nigeria Kim Young-Chae, who led officials of the Foreign Mission; and the Special Envoy of the National Assembly of the Republic of South Korea, Lee Hun-Seung, who led members of the country’s parliament.

On the side of the House were the Minority Whip, Ali Isa; Chairman of the House Committee on Foreign Affairs, Abdulmumin Jibrin, and several other members.

In his remarks, the Speaker noted the long-standing relations between Nigeria and South Korea resulting in exchange of parliamentary programmes since Nigeria’s return to democracy in 1999.

He recalled that the 9th House established a Nigeria-South Korea Parliamentary Friendship Group to deepen exchange of ideas, legislative practices and procedure, as well as parliamentary exchange programmes for capacity development of members and staff noting that the 10th assembly would sustain the friendship.

Mr. Abbas stated that the focus of the Nigerian Government and the 10th House was to strengthen the economic ties between Nigeria and South Korea “to achieve the Fourth Industrial Revolution in technology development and transfer’.

The Speaker therefore, called for increased collaboration between the parliaments of both countries to “strengthen areas that require legislative actions in our budding relations”.

He also called for increase in the promotion of business opportunities, including organising trade fairs and exhibitions, while encouraging Korean companies to invest in Nigeria’s mining sector, renewable energy, steel and the petroleum industry.

The Speaker further enjoined both countries to explore opportunities in enhancing cultural cooperation, including the movie industry, to diversify the economy from oil and gas as the main source of foreign earning.

The Speaker stressed the need for increased collaboration between Nigeria and the Korean International Cooperation Agency to accelerate technology and infrastructure development in Nigeria as well as job creation for the youths.

The Speaker assured the Korean delegation of Nigeria’s support for the Asian country’s World Expo hosting bid.

Speaking on behalf of the delegation, Hun-Seung, who thanked the Speaker for “welcoming us with open arms. also congratulated Nigeria on the successful inauguration of President Bola Ahmed Tinubu.

According to him, the final vote on the hosting right for the global exhibition is coming up in September. “If you help us we will also help you,” he said, adding that he was looking forward to a strengthened collaboration between South Korea and Nigeria.

According to him, Nigeria is South Korea’s largest trading partner on the African continent, and hailed Nigeria’s huge natural resources. “Our economies are quite complementary with each other,” he said, stressing that the free trade agreement between the two countries could be improved.

Oduyemi Odumade, Edited By Grace Namiji

Written by: Elizabeth David

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