Trade on the rise between Nigeria and Germany

12th July 2007, Comments 0 comments

12 July 2007, Abuja (dpa) - Bilateral trade between Nigeria and Germany has grown substantially with the former's exports to the European country hitting 1.4 billion euros (1.9 billion dollars) in 2006, the German embassy in Nigeria said Wednesday.

12 July 2007

Abuja (dpa) - Bilateral trade between Nigeria and Germany has grown substantially with the former's exports to the European country hitting 1.4 billion euros (1.9 billion dollars) in 2006, the German embassy in Nigeria said Wednesday.

The amount represented an increase of 95 per cent compared to the 2005 level, the embassy said, adding that German exports to Nigeria also increased by 27 per cent, amounting to 983 million euros.

"Nigeria continues to be a very interesting market for German suppliers and service providers in the oil and gas sector, but trade in products like cocoa, rubber, gem stones and half-finished goods is also growing," it said.

German experience in terms of establishing an efficient and sustainable development programme for renewable energies might be of interest to Nigeria, the embassy said, announcing an information and technology exposition for October which would provide up-to-date information on solar, solar thermal energy, wind energy and photovoltaics.

Germany spent 68,000 euros last year to support small projects that could boost Nigerians' living standards, the embassy said, including community-based projects in orphanages, community clinics, schools and boreholes.

The support is usually complementary to local efforts, with benefiting communities encouraged to complete and sustain the projects, it added.

DPA

Subject: German news

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