The Netherlands consulate in Lagos and AFEX Commodities Exchange have partnered to boost agricultural commodities exports from Nigeria to the Netherlands.
The Netherlands Consulate and AFEX announced the partnership at a roundtable discussion themed, “Sustainable Agro commodity Export,” held in Lagos.
The event, which was hosted stakeholders in the agriculture and trade sector, focused on scaling existing trade and resolving bottlenecks.
Speaking, Netherlands’ Vice Minister for Foreign Trade, Hanneke Schuiling, said, “As the fastest growing company on the African continent, AFEX has seen steep growth of exports.”
According to her, the company accounts for 10 per cent of the cocoa and 30 per cent of the ginger flowing from Nigeria to the Netherlands, worth about $20 million annually, noting that the numbers are increasing.
“Low productivity levels and rapid population growth make this an even bigger challenge. However, Nigeria possesses substantial potential to generate revenue from agricultural exports. To expand Nigeria’s export market access for agro commodities, it is crucial to deepen trade relationships, particularly with the EU, “she said.
Also speaking, Consul-general, Kingdom of the Netherlands, Michel Deelen, added that people can learn a lot from the Dutch strategy, especially in the area of seeding and achieve a lot in terms of agricultural produce.
In his remark, Chief Executive Officer at AFEX, Ayodeji Balogun, revealed that the company plans to open a new trade office in the Netherlands.
According to him, “Over the last four years, the average of bilateral trade flows between Nigeria and the Netherlands was $ 6 billion annually and agro-commodities trade accounted for the second highest and fastest growing area of trade between both countries.”