Guardian, Trinidad & Tobago
It is important that Nigeria and T&T continue build trade links to cut their trade deficit, according to Videsh Maharaj, Investment Specialist at the Ministry of Trade. “This is important for us as according to the Central Statistical Office (CSO) there was trade deficit between the two countries between 2007 and 2010. However, this has been progressively getting smaller and it has been the result of an increasing volume of trade,” he said. Maharaj was speaking at a Focus on Nigeria Trade Mission meeting at the Hilton Hotel and Conference Centre, Port-of-Spain, on behalf of the Trade Minister Vasant Bharath who was unable to attend the session.
He said: “The countries of Africa and southern countries share specific ties as these countries seek to improve their economies. Africa conducts half of its trade with the southern countries of the world. The Caribbean region and the African continent have collaborated for many years. As the 21st century progresses we would like to improve these ties,” he said. He said the government hopes the trade symposium leads to trade partnerships. “The Nigerian economy is one of the largest in Africa and the most populous with a 167 million people. T&T has a lot to offer Nigeria. Our country is ideally located among North, South and Central America and T&T has one of the highest per capita incomes in the region of Latin America and the Caribbean,” Maharaj said.