By Agboola Bay
Ibadan
Republic of Korea Commercial Attache to Nigeria, Mr. Bohyun Pyun, has disclosed that Korea imported over two billion dollars worth goods from Nigeria between January and third quarter of this year.
Mr. Pyun who. dropped this hint while speaking during his courtesy visit to the Ibadan Chamber of Commerce and Industry (ICCI) also added that Korea during the same period exported goods worth over 800 million dollars to Nigeria.
The Republic of Korea Commercial Attache to Nigeria pointed out that his office otherwise known as Korea Business Center (KBC), will continue to play pivotal role in expand trade relationship between the two countries.
Emphasizing that the trade balance was in favour of Nigeria,he disclosed that many Korean companies are eager to explore and find trading and joint venture partners in various business line.
Mr Pyun maintained that Korea has been in Nigeria since 1966, long before diplomatic relationship was established in 1980, saying,Ibadan Chamber of Commerce and Industry (ICCI) is better positioned as a business partner by collaborating with Korean investors in the mining and agricultural produce because of the huge solid mineral deposits in the state.
“Our major export items to Nigeria are oil and gas plant and equipment; petrochemical products; automobile; electronics; machinery and medical or pharmaceuticals and textiles; and our major import products are natural gas and solid mineral. Korea is noted for quality products that meet international standard and in conformity with the Standard Organization of Nigeria and NAFDAC approved standards for exports to Nigeria,”he said.
Speaking,the President of the chamber, Prince Abimbola Makanjuola, assured the visiting Korean Commercial attaché that business opportunities abound in Ibadan and with the ongoing rehabilitation of Ibadan-Lagos expressway many factories will begin to relocate to the city.
Prince Makanjuola stressed that the visit by the Korean officials will bring mutual benefits to the countries, saying the forum is an opportunity for business partnership, links and contacts and business synergies that will promote direct foreign investment in the country.