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Nigeria, Cuba Trade Volume Remains $2m – Cuban Ambassador

Carlos Trejo Sosa, Cuban Ambassador to Nigeria, has expressed the determination of his country to scale up the trade volume between Nigeria and Cuba, which currently remains at $2 million.

Sosa stated this when he received a delegation of the Abuja Chamber of Commerce and Industry (ACCI) led by Tony Ejinkeonye, its President, to the Cuban Embassy in Abuja.

He expressed concern that the present trade volume between Nigeria and Cuba does not represent good economic relations, as Nigeria is rated as the Africa’s largest economy.

The envoy implored the leadership of ACCI to assist his country to boost the trade volume between Cuba and Nigeria.

He said: “Cuba and Nigeria share the same cultural outlook and good relationship but there is trade disparity between the two countries”.

“Cuba has many economic opportunities which have amplified our economic relations with the Asian and European Continent.

“The fact that the Cuba-Nigeria trade volume hovers around $2 million does not represent good economic relationship with the Africa largest economy.

“Cuban government foreign economic policy is geared towards the African market with specific interest in Nigeria.

“There are huge investment opportunities in the tourism and agricultural sectors of the Cuban economy.

“Cuba imports 80 per cent of her food and exports mainly pharmaceutical products and health services.”

He stated that Cuban medical practitioners are best around the world with state-of-the art hospitals domiciled in their country.

In his response, Tony Ejinkeonye, President of ACCI, stated that since Nigeria and Cuba share the same cultural ties, they ought to have better economic relations in terms of volume of trade.

He said the Chamber had identified trade missions, international trade fairs and exhibitions as veritable tools for promoting investments and trade relations between Nigeria and Cuba.

He assured that ACCI would partner with Cuban Embassy to facilitate the participation of the Cuban business community especially the health sector in the forthcoming 11th Abuja International Trade Fair slated for September 22 – October 8, 2016.