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Trade Between Nigeria, Russia Hit $600m

Oluwasina Phillip

In a quest to strengthen the trade relations between Nigeria and Russia, a Nigeria-Russia Chamber of Commerce and Industry (NRCCI) has been launched in Abuja.

This is just as the Deputy Head of Mission, Russia Embassy, Valery Shaposhnikov revealed that the trade volume between Nigeria and Russia is worth $600 million without the inclusion of petroleum products.

Addressing journalists in Abuja, the President of NRCCI, Obiora Okonkwo said the principal objectives of NRCCI are to promote commerce, industry, trade, and ancillary services.

He also said that NRCCI will “foster, advance and protect commercial, industrial, trade and professional enterprises and, without limitation, other activities and business undertakings of all kinds in the locality and elsewhere.

“NRCCI also aims to study, promote, protect and extend industrial and commercial relations between individuals, firms, companies, corporations, institutions, and associations of Nigeria and Russia as well as provide Nigerian and Russian businesses with a forum for contacts, discussion of common interest, information, advice, and collation of ideas for the improvement of economic and business interests.

Okonkwo said NRCCI will further promote, organize and participate in seminars, conferences, and trade missions between our two countries as well as liaise with other Chambers of Commerce and bodies for the advancements of trade and commerce.

As a chamber of Commerce and Industry, NRCCI shall provide and develop business services to members and to respond to inquiries; collect, analyse and disseminate information (including statistics and other economic and business information) on all subjects of interest to members

“Provide educational and industrial courses including higher education and career advisory services to members and also, encourage, establish and support employment initiatives for the start-up of businesses and enterprises.

“NRCCI shall also act as marketing agents and provide recruitment services; provide resources for the protection of traders and manufacturers as well as organize seminars, symposia, conferences, trade fairs and exhibitions for the promotion of business and technological advancement in the industry, agriculture, and manufacturing.

Speaking further on the volume of trade between Nigeria and Nigeria, the Deputy Head of Mission, Russia Embassy, Shaposhnikov said there is a need for Nigeria to produce standard goods in order to advance trade with Russia.

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