Finland

Finland

Why trade between Nigeria and Finland is low Ambassador “If you look at simple trade in goods, the customs data, the numbers are incredibly low but they do not capture all of the trade that we do...,” Ms Pylvänäinen said.

Boosting Trade Relations

Despite the low numbers reflected in the customs data, Nigeria and Finland have been making efforts to enhance their trade relations. Both countries recognize the untapped potential and are actively seeking ways to boost their bilateral trade.

One of the key areas of focus is the promotion of investments. Finland has expressed interest in investing in Nigeria's various sectors such as energy, telecommunications, and technology. By partnering with Finnish companies, Nigeria can benefit from their expertise and advanced technologies, which can contribute to the growth and development of these sectors.

Exploring New Opportunities

In addition to investments, Nigeria and Finland are exploring new opportunities for trade. This includes increasing the export of Nigerian products to Finland and vice versa. By diversifying their trade portfolio, both countries can reduce their dependence on specific industries and tap into new markets.

Furthermore, there is potential for collaboration in the areas of education and research. Finland is known for its high-quality education system, and Nigerian students can benefit from studying in Finnish universities. This exchange of knowledge and expertise can foster innovation and contribute to the overall development of both nations.

In conclusion, while the trade numbers between Nigeria and Finland may currently be low, both countries are actively working towards strengthening their trade relations. Through investments, diversification of trade, and collaboration in various sectors, Nigeria and Finland can unlock their full trade potential and create mutually beneficial partnerships.