• Thursday, February 29, 2024
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Swedish firms will increase presence in Nigeria, says trade chief

Swedish firms will increase presence in Nigeria, says trade chief

Per-Arne Hjelmborn, director-general for trade at the ministry for foreign affairs of Sweden, has said Swedish companies that already exist in Nigeria will be incentivised to increase their presence.

Hjelmborn said this at a recent Nordic-Nigeria Connect event in Lagos. Nordic countries consist of Denmark, Finland, Norway, and Sweden.

The event, which was themed ‘Innovation for a Greener Future’, discussed exportable Nordic sustainable solutions and innovations.

“Many of the Swedish nationals have been here for decades. So we have footprints present here. But there’s so much potential to do more,” he said.

“We can help with new guidelines and strategies on foreign trade, investment, and competitiveness, which we hope to launch soon,” he added.

The trade chief said the strategies will include several tools that he hopes will stimulate and incentivise Swedish companies to increase their presence for those who are already here.

Nigeria represents over 65 percent of the economy of the West Africa region. The region is the largest in Africa and economically one of the world’s fastest-growing regions.

“West Africa is the European Union’s largest trading partner in sub-Saharan Africa. It is also an advantageous platform for Sweden,” Nordic-Nigera Connect said in a note.