Mexico and Nigeria are committed to scaling up their bilateral trade relations, which has a relatively low current value of approximately 180 million dollars.
The payment value of transaction between the two country is approximately 180 million dollars.
Mexico committed about 100 million dollars from the amount to import from Nigeria hibiscus flowers alone, locally known as ‘Zobo,’ which is in high demand in Mexico.
These were disclosed by Mexican Ambassador to Nigeria, Alfredo Miranda, during an interview in Abuja on Monday.
Miranda said both countries have high potentials and high capacity as they have potentials in oil and gas, agriculture, pharmaceuticals, technology transfer, etc.
He said that toward enhancing the trade relations between the two countries, two Mexican business delegations also visited Nigeria recently, adding, “
“We are assiduously working together to achieve the goals, aims and objectives of scaling up our bilateral trade relations. In conducting our trade relations, we are considering how to transfer raw materials here, as well as value added tax, among others.”
“The main challenge is that most Mexican businessmen prefer to do business with the U.S. because of our proximity and their prompt payments,” the envoy added. The diplomat said that Mexico’s strategic geographical location in Central America, which is close to the U.S., makes it a gateway to Latin America.
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