Volume of trade between Nigeria, Israel put at US$1b

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The volume of trade between Nigeria and Israel stood at US$1 billion in 2008, according to Nigeria’s Minister of State for Commerce, Trade and Industry Humphrey Abba.

Speaking at the opening of the first Nigeria-Israel Business Forum (NIBF) in the capital city of Abuja on Tuesday, Abba said, however, that the amount represented only imports from Israel and no expor ts from Nigeria.

â?Since after the repairing of diplomatic ties with Israel with the re-opening of the Israeli Embassy in 1993, Nigeria has continued to seek the strengthening of our economic and mutual ties. The volume of trade h as progressed progressively in the region of US$1billion per annum.

”However, there is great room for improvement. There is a wide trade imbalance between us and Israel, because the region of US$1billion represents imports from Israel,” the Minister said, expressing the hope that th e Nigerian Chamber of Commerce would promote trade between the two countries to change trade imbalance.

The opening of the forum coincided with the visit to Nigeria of the Israeli Fore ign Minister and Deputy Prime Minister Avigdor Liberman.

Liberman’s visit to Nigeria is part of his five-nation African trip, which start ed 2 Sept. in Ethiopia.

The Israeli FM has also visited Kenya and was expected to arrive in Uganda Wedne sday.

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