The Head of the European Union (EU) Delegation to Nigeria, Ambassador Samuela Isopi has said the Union remains Nigeria's strongest trade partner over the years.
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Isopi, who is also the head of the EU Delegation to the rest of the Economic Community of West African States (ECOWAS), while addressing a press conference in Abuja, on the forthcoming Europe Day 2022, and also provide information on several issues, including the European Union's engagements with Nigeria and with ECOWAS, revealed that the total EU-Nigeria trade in 2021 stood at €28.7 billion.
She put EU's imports from Nigeria at €17.5 billion with exports to the country in 2021 at €11.2 billion.
The EU Head disclosed that the trade balance in 2021 stood at €6.4 billion in favour of Nigeria, while the year-on- year change between 2020 and 2021 recorded a surplus of 25.8 percent.
She said that: "The EU is Nigeria's most important trading partner accounting for 20.9 per cent of Nigeria's trade with the world."
She added: "EU is the first export destination for Nigeria, accounting for 25.4 per cent of its exports," while the EU is second in Nigeria's imports from the world accounting for 16.1 per cent of its total imports.
Isopi, however, noted that the EU was oftentimes not seen as the most important business and trading partner of Nigeria because it, "is seen with the eye of different countries with varying trade and bilateral relationship with Nigeria."
She said this was a misconception, maintaining that the EU is a trading bloc and should be seen as such.
"The recent launch of the Multiannual Indicative Programme (2021-2027) last February, is an important step in reinforcing and concretising the EU's cooperation with Nigeria. It will enable the EU and Nigeria to continue working together on programmes and projects that are built on shared objectives, principles and values," she added. ■
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