Jean-Michel Dumond, the French Ambassador to Nigeria stated the bilateral trade between France and Nigeria last year had reached about 2.5 billion euros. Though it did not reflect in terms of political relationship that both countries shared, it was a significant achievement, he added. It has been largely perceived that on international matters, France and Nigeria often were able to find common ground on peace, security, environment, climate change, cultural diversity and globalization. France has claimed their military presence in the West African region was only to help the countries to maintain peace and harmony, thereby to ensure socio-economic growth.
Dumond said the coming years would see greater economic activity between the two nations. The envoy has pinned hopes on the proposed visit by President Umaru Musa Yar’Adua’s to France on the invitation of the French President Nicolas Sarkozy. Last year, the Nigerian exports to France stood at about 1.3 billion euros and imports were pegged at around 1.1 billion euros. France has 120 companies operating in Nigeria and is currently, Nigeria’s second largest overseas investor. Both leaders have met at a couple of occasions earlier, however, was not able to make significant progress in trade. Though the visit by the Nigerian President is understood to focus on strengthening political relations, trade is also expected to equally figure at the talks.
France is aiming at becoming the largest trade partner in the sub-Saharan region through Nigeria. The French Ambassador informed that they would help Nigeria in setting up the security systems of their country. He reiterated, apropos of Sarkozy’s speech in Cape Town, that France would be available for the idea of building Africa’s own capability for security, stability and defense. Dumond also said he is highly hopeful of the re-launch of the Franco-Nigeria Forum of Dialogue which was established in 2000. France is hoping to augment its trade with Nigeria to $10 billion by 2010, and if equal importance is given for bilateral trade during Yar’Adua’s visit to France, it would not be hard for them to achieve the target.