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Nigeria urged to invest in KP`s hydel sector

PESHAWAR, Dec 10: Khyber Pakhtunkhwa Chamber of Commerce and Industry has invited Nigerian businessmen to invest in Khyber Pakhtunkhwa`s hydel power sector, hoping it would enhance bilateral trade and business activities between Pakistan and Nigeria.

In a meeting with the Nigerian High Commissioner Dauda Danladi, who visited the Chamber on Tuesday, the KPCCI leaders called for improving cooperation between the two nations by taking measures to bring businessmen of the two countries closer.

Speaking on the occasion, KPCCI`s president Zahidullah Shinwari said the size of bilateral trade could be improved from the existing $500 million annually by removing irritants in the way of making investment in the two countries.

The KPCCI members said the bilateral trade could improve if businessmen from the two sides were brought closer through exchange of trade delegations, providing them an opportunity to share experience and learn from each other.

Mr Shinwari extended invitation to the visiting dignitary for a trade visit to his province by businessmen from Nigeria. He also invited the Nigerian high commissioner`s attention towards delays the Khyber Pakhtunkhwa businessmen experienced in getting visa to travel to Nigeria.

Mr Danladi invited the KPCCI businessmen to invest in Nigeria`s agriculture, oil and gas, petrochemical, mines and mineral, dairy, and livestock sectors. He said his government would extend exemptions to Khyber Pakhtunkhwa investors in taxes and duties in Nigeria.

Similarly, the KPCCI president said Khyber Pakhtunkhwa`s hydel power generation, gems and jewellery and marble sectors entailed tremendous opportunities for foreign and local investors. -Bureau Report