November 9, 2021

Nigeria, Bulgaria bridge investment, trade gaps

By Emma Ujah, Abuja Bureau Chief

Twenty-five years after the collapse of the Soviet Union, Bulgaria and Nigeria, Tuesday  unveiled the  Nigeria-Bulgaria Business Exchange Platform with a view to strengthening the bilateral cooperation and  bridging the trade and investment gaps between the two countries.

Ambassador Extraordinary and Plenipotentiary of the Republic of Bulgaria, Mr. Yanko Yordanov, yesterday, in Abuja, described the platform as, “something that has been the goal of our cooperation for so long.”

He added, “This marks an excellent bilateral cooperation between the Giant of Africa and the Republic of Bulgaria.”

The envoy stressed the need for the sustainability of a strong relationship between the two countries and that his home government was willing to put in whatever was required to make it a highly mutually beneficial relationship for both countries.

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His words, “This event has been designed to be sustained between our two governments so that businesses can thrive on a more sustainable basis.

“If you look at trade between our two countries, you can clearly see ups and downs.  We want to see more ups than downs.

“This is the beginning of bridging the gap that obviously exists in data and in information on businesses between Bulgaria and Nigeria.

“It is about growth.  It is about ambitious growth both in trade and investment.  Trade is a key word in a post-pandemic period and I firmly believe that the excellent data that can be presented by the Nigerian government are the foundations on which we can really build further, our bilateral cooperation, in this regard.”

Amb. Yordanov added, “Post-pandemic world offers a lot of challenges and opportunities as well.  So bridging this gap in data, contacts and information will help us to regenerate investments from both sides and trade that will benefit both nations.”

The ambassador expressed gratitude to the Federal Ministry of Industry, Trade and Investment for supporting the initiative.

In his remarks, the Executive Director, Center for Entrepreneurial Exchange Development, (CEED) Africa, Uchechukwu Chukwuma, said that Nigeria-Bulgaria Business Exchange Platform would focus on the advancement of private investment transactions between    Nigeria and Bulgaria, market trust building, and insights intended to move deal-making beyond the introductory phase.

He said, “Nigeria-Bulgaria Business Exchange Platform is meticulously organized to create a conducive Platform for synergy, trade and investment interaction between Businessmen and industrialists from Nigeria and Bulgaria.

“The establishment of this platform marks the fulfillment of a dream, a vision that started years ago when we began to realize that we need to bridge the gap aimed to uniquely address the issue that has hindered the growth and successful development of trade and investment between Nigeria and Bulgaria irrespective of over five decades of bilateral relationship between the two countries.

“Towards this end, this Program   is therefore intended to create a more beneficial and mutual business relationship between Nigeria and Bulgaria   with the aim of Building a strong Joint Venture Partnership to attract the desired foreign investments to Nigeria and Bulgaria.”

Vanguard News Nigeria