Government officials, business executives and other key players from Nigeria and various European nations will convene on the 2nd of July 2024 for the 9th European Union-Nigeria Business Forum. Their main objective will be to examine and pinpoint potential Investment prospects in particular industries. The European Union (EU) mentioned that the forum will center around existing and future investment opportunities in the realms of Technology, healthcare, and Agriculture. The focus of the event is centred around the theme “Investing in jobs and a sustainable future”.
The inaugural Forum which will be held in Abuja next month is being spearheaded by the EU Delegation to Nigeria and ECOWAS, along with support from EU Member States and the Federal Ministry of Industry, Trade and Investment. In her statement, Samuela Isopi, the European Union Ambassador to Nigeria and ECOWAS, emphasized that the Business Forum serves as a platform for enhancing interactions among businesses, policymakers, and stakeholders from both Nigeria and the EU. She highlighted that the Forum aims to boost trade, investment, and partnerships by enabling networking, discussions, and policy development.
Opening an avenue to discuss investment priorities.
Ultimately, the aim is to strengthen economic cooperation between the European Union and Nigeria, fostering sustainable growth for both regions. She emphasized the significance of the upcoming 2024 EU-Nigeria Business Forum being held in Abuja, marking the first time in its history. The upcoming meeting offers a chance for the European Union, European Member States, and Private Sector representatives from both Europe and Nigeria to discuss investment priorities with the new administration openly and inclusively. The goal is to build trust and dedication to a more robust and long-lasting partnership.
Isopi detailed how the EU Global Gateway Strategy involves supporting EU-funded initiatives that will enhance private sector involvement in key areas that promote social, economic, and environmental Sustainability. For Nigeria, there is a focus on utilizing local talent, with an emphasis on youth and women, to strengthen economic, social, and environmental resilience. Isopi further mentioned that the upcoming business forum will also focus on exploring opportunities for creating a legal framework that fosters strong bilateral ties between the European Union and Nigeria.
400 attendees are anticipated to participate at the event.
This framework aims to provide assurance, consistency, and longevity to trade and investment between the two regions. The Nigeria Minister of Industry, Trade, and Investment, Doris Uzoka-Anite appreciates the efforts of the EU Delegation to Nigeria and ECOWAS, along with the European Union Member States, for their commitment to fostering economic collaboration and encouraging long-lasting development. She said it is crucial to capitalize on this chance to lay the foundation for a bright and successful future for both Nigeria and the EU.
With a design of hybrid format, the forum aims to engage sectoral associations, the business community, and entrepreneurs. A minimum of 400 attendees are anticipated to participate in person, with additional virtual attendees also expected. There will be panels covering various topics such as boosting confidence in the Nigerian Economy to attract Foreign Direct Investment (FDI), making a digital leap, fostering thriving economies, and transitioning from agriculture to agribusiness. The Business Forum aims to facilitate conversations and discover potential business, trade, and sustainable investment opportunities in alignment with the EU Global Gateway Strategy.
The event with host discussions and collaborations between countries.
Exploring the potential for a bilateral legal framework between the European Union and Nigeria will be the main focus, highlighting the advantages it could bring to trade and investment relations between both countries. The event will also gather key economic policy influencers in Nigeria for discussion and collaboration. Moreover, the Forum offers a unique opportunity for esteemed conversations and connections, uniting business leaders from Africa and Europe to explore ways to enhance the environment for business and investment.
