(3 minutes read) (Global: EU)
French Foreign Trade Minister Olivier Bech will be on a visit to Nigeria to engage with that country and to accelerate its investments and economic cooperation
French Foreign Trade Minister Olivier Bech will be on a visit to Nigeria to engage with that country and to accelerate its investments and economic cooperation. Before undertaking the trip, the French Minister said that his country would continue with its economic engagements with Africa. He also said that France was in no way driven out of Africa and assured its presence in the continent in a more meaningful manner.
Referring to the bilateral economic relations between France and Nigeria, the French minister reiterated that Nigeria was France’s leading trading partner in sub-Saharan Africa. Around 100 French companies are present there, according to the French Government. During the two-day visit to the West African country, Olivier Becht will be accompanied by a business delegation consisting mostly of SMEs. French investments, the minister pointed out, would be mostly in the development of mobility, education, and health infrastructures.
The French army has been forced to withdraw from Niger, Mali, and Burkina Faso in recent times, which is attracting international headlines. Analysts point out that at this crucial trajectory, the ex-colonizer France has to recalibrate its presence. Economic presence through more investment can be a change in strategy to stay put in Africa, particularly in sub-Saharan Africa, where China and Russia are increasingly spreading their presence.
Read Also:
https://trendsnafrica.com/nigeria-ondo-state-to-promote-businesses-in-the-region/
https://trendsnafrica.com/nigeria-should-give-more-focus-to-msmes/
The minister hinted that France has an advantage since its products and technologies are superior to those of China and Russia. Further, he added that its investment policies are sensitive to the local conditions, focussing more on value addition and the creation of gainful jobs.
