Nigerian and European business leaders, policymakers, and institutional stakeholders will converge in Abuja on July 2 to identify and explore investment opportunities along specific value chains during the ninth European Union-Nigeria Business Forum.

The EU ambassador to Nigeria and ECOWAS, Samuela Isopi, said this to journalists on Sunday in Abuja.

Ms Isopi said the business forum will also facilitate trade, investment, and partnerships through networking, discussions, and policy shaping, promoting economic cooperation between the EU and Nigeria and stimulating sustainable growth for both parties.

“It is important to note that for the first time since its inception, the 2024 edition of the EU-Nigeria Business Forum will be held in Abuja,” said Ms Isopi.

She added, “This will provide an opportunity for the EU, its member states and the private sector from Europe and Nigeria to engage the new administration on their investment agendas in a transparent and inclusive manner, with a view to fostering confidence and commitment to a stronger and sustainable partnership.”

She explained that as part of the EU Global Gateway Strategy, EU-funded projects will complement private sector investment in areas that bring about critical social, economic, and environmental sustainability.

The EU envoy said that in Nigeria, particular attention is paid to harnessing local talent, particularly among youth and women, and economic, social, and environmental resilience.

Against this backdrop, she also said that the forum will focus on current and prospective investments in the digital, health, and agricultural sectors.

According to Ms Isopi, the forum will discuss options and benefits for establishing a bilateral legal framework between the EU and Nigeria, bringing certainty, stability, and sustainability to bilateral trade and investment relations.

The latest statistics show Nigeria’s and the European Union’s trade volume has grown to €45 billion. This was the case as of September 2023, even as the United Nations COMTRADE database indicated that Nigeria remains the EU’s largest trade partner, accounting for 20.9 per cent of Nigeria’s global trade.

The EU is made up of 28 European countries, though there are 50 countries considered European.

(NAN)