Ukrainian Trade Mission Signs MOU with Nigeria to Expand Trade Relations


Ugo Aliogo and Lawal Kehinde

The Ukrainian Trade Mission has signed a Memorandum of Understanding (MoU) with the Lagos Chamber of Commerce and Industry (LCCI) to enhance the trade relationships between the two countries as well as to study and discuss the system of export-import relations, trade barriers and legislative features.

Speaking at the event in Lagos, the Deputy Minister for Economic Development and Trade of Ukraine, Mrs. Nataliya Mykolska, said this was the first ever Ukrainian Trade mission to Nigeria adding that the country is a promising partner for Ukraine in West Africa. He said that the country is among top-20 markets in focus for Ukrainian export in the export strategy of Ukraine.
She also noted that there is a great potential for bilateral trade increase, pointing out that there are a lot of opportunities for Ukrainian businesses in Nigeria thus the decision to open Nigeria market for Ukrainian exporters.

Furthermore, she said that Ukrainian products are of high quality with competitive prices for the Nigeria market, adding as a country they have the knowledge to offer tailor-made solutions to entrepreneurs in the Nigeria market.
According to her, through the trade relation, they would be ready to sell to the Nigeria market industrial energy machinery, which would help drive the exploration and production in the oil and gas industry.

Earlier, in his remarks, the Ukranian Ambassador to Nigeria, Valeriy Aleksandeuk, pledged his country’s commitment to building a strong bilateral trade relation with Nigeria, stating that the partnership would help expand their relationship especially in trade, investment and economy.
He noted that both countries have enjoyed good trade relationship for many years and want to use the trade partnership agreement to expand the corporation.

Continuing, she said: “We are ambitious about doing businesses in the region, because we are becoming global. Nigerians should look at our companies for long lasting corporation. We are looking for companies in West Africa to do business with. We are leaders in different sub-sectors. We are great partners to Nigeria in terms of supply of agricultural products.

“Our products will be of high demand here because the prices are competitive and they are of high quality especially industrial products. We are experienced in offering the individual tailor- made solutions in different types of machineries. The Ukrainian companies are ready to adjust their products to the Nigeria market without any additional fees for the local consumers in the Nigeria market. This applies for food products and machinery building because we have realised that in Nigeria, there are certain standards required for products. Therefore we have companies they are ready to meet those standards. The Nigeria market is a market in focus and it is strategic, while stating that they have seen that the country is one of the fastest growing in the Africa region, therefore she noted that Nigeria market is one of Ukrainian biggest market on the continent.”