Amb. Maria O. Laose surrounded by members of the Austrian
Trade Delegation
Mr Andreas Meindl, Regional Manager Africa and the Middle East, Austrian Federal Economic Chambers is leading an Austrian Private Sector trade mission comprising of 11 representatives of major Austrian companies to Nigeria, from 13 to 17 November, 2011. The mission which is being organised by the Austrian Federal Economic Chamber in collaboration with the Commercial Section of the Austrian Embassy based in Lagos, Nigeria will match Austrian firms with prospective Nigerian business partners in Lagos and Abuja, the commercial centre and political capital of Nigeria.
Mr Andreas Meindl said that the visit was to underscore the resolve of Austria to deepen existing economic relations and partnership between the two countries, in view of the fact Nigeria has been Austrias largest trading partner in sub-Saharan Africa. During the visit, the trade delegation, comprising of 11 representatives drawn from the different sectors of the Austrian private sector will explore opportunity for trade and investment collaboration, and hold business talks with their Nigerian counterparts as well as with Government authorities in Lagos and Abuja, including the Fed. Ministries of Transport, Work and Health.
At a reception held at the Nigerian Residence in Vienna on Monday 7 November, 2011 to familiarise the delegates with Nigerias business environment, the Ambassador and Permanent Representative of Nigeria in Austria, Ms Maria Laose, enumerated numerous advantages open to prospective investors to invest in Nigeria. Some of these, she said, included the vintage position of Nigeria as the economic hub in the west coast of Africa, which serves as a platform for reaching the larger African market beside the advantages conferred by its large internal market.
She also highlighted some on-going infrastructural development projects such as the Lagos Mega City programme, the Eko Atlantic project, the Lekki Free-zone project, and opportunities in banking and finance and Solid Mineral sectors among others that should be of interest to the trade Mission. She further informed them that the Nigerian population consist of well educated and skilled young Nigerians that provide a qualitative and affordable workforce ready to be profitably engaged for the establishment of cost efficient offshore production facilities.
In view of this, she advised delegates to take full advantage of these opportunities to maximise their investments in Nigeria. Ambassador Maria Laose further advised them to discard whatever fears they might have regarding their safety while in Nigeria, particularly in the wake of recent media reports on incidents in certain parts of Nigeria, adding that the Nigerian security agents were capable and up to the task of protecting both foreign visitors and Nigerians.
In conclusion, she informed them of the plan by the Embassy to organise a trade and investment promotion event in the middle of 2012 that would bring Nigerian private sector operators to Austria as a follow-up to this Austrian initiative which she described as very laudable and inspiring.
The Austrian trade delegation to Nigeria include Amar Fetoui of BSE Machinery Handels-GmbH, Franz Moser, CEO of Containex Container-Handelsgesellschaft m.b.H, Peter Zeringer of Containex Container-Handelsgesellschaft m.b.H. and Falk Winter / Coolibree GmbH. Others are Georg Kyral of Forbo Siegling Austria GmbH, Nicolas Azar of HVD Biotech Vertriebs GesmbH, Harald Meixner, Meixner Vermessung ZT GmbH, Alfonso Mateo Villa and Waagner-Biro Bridge Systems AG. The team will be accompanied by Mr Ekpebike Steve Agbana, Minister at the Nigerian Embassy Vienna, Austria.
The reception was also attended by prominent Nigerian and Austrian businessmen including, Engineer Olugbenga Oduala of PORR, Mr. Ibukun Talabi of Eco-Homes and Ms Margit M. Holzer of Sustainable Development and Renewable Energy Initiatives and Austrian African Society. Senior members of the Embassy were also in attendance to provide further useful briefing for the trade team.
A significant upswing in the value of trade has been witnessed since 2007 with the signing of the contract between the Federal Ministry of Health and the Austrian Conglomerate, VAMED for the rehabilitation and supply of equipment to University Teaching Hospitals in the Six Geopolitical Zones of Nigeria. VAMED is also known to have won and executed contracts in the health sector with some state governments in Nigeria.
Beginning from 2009 the value of trade recorded significant improvement with the resumption of Austrian importation of Crude Oil from Nigeria. The value of Austrias recorded trade with Nigeria rose from (all in Euro) 269,569,592 (172,151,685 import and 97,417,907 export) in 2009 to 461,331,676 (364,381,743 import and ?96,949,933 export) in 2010 and 491,765,570 (443,823,137 import and 47,942,433 export) in the first half of the current year i.e. January-June 2011. This makes Nigeria the second largest trade partner of Austria in Africa. The lifting of the prohibition on importation of textile products into Nigeria has provided a new opportunity for the doubling of the value of trade in textile which has become the dominant item of trade in the non-oil sector. In addition to the trade in textile which is currently valued between ?35?40 mil