VDMA: Local Industrial Players Should Leverage Nigeria-German Trade Relationship

The Mechanical Engineering Industry Association (VDMA), a German association of 3,600 German and European mechanical and Plant Engineering Companies, has urged local industrial players to leverage the renewed Nigerian-German trade relation to develop the sector.

This is coming as the trade volume between both countries is expected to be growing at the rate of €3billion annually in the wake of the recent visit of the President Bola Tinubu to Germany.

VDMA disclosed this in Lagos at a business symposium as part of a trade visit of delegation of German Original Equipment Manufacturers to Nigeria.

Speaking at the event, the Regional Manager, Africa and North America, Construction Equipment and Plant Engineering Mining, VDMA, Mr. Chukwuemeka Onaa, said their visit was to seek active partners for member companies.

According to him, “We are also here to seek active partners and are actively searching for partners for our member companies who will represent them locally, be the face of the respective companies to the Nigerian customers. We want Nigerian local industrial players to leverage our partnership of over 3600 members.

“So here basically, we came to Nigeria to explore opportunities for business, and our intentions overall is to partner Nigeria to improve the industrial sector. That is why you can see the roll up banner stating a better and reliable partner. I know Nigerians have a lot of partners from other countries or continents but we position ourselves as a better and reliable partner.”

Onaa said that the Federal Government has given German investors assurances on a conducive business environment.

However, the delegation team lead, intimated that with the Nigeria-German trade volume estimated to be growing at €3 billion annually, Nigeria as the second largest trading partner with Germany in Sub-Saharan Africa is well positioned to benefit.

Commenting further, Onaa said, last year he was in a Nigeria-German business forum in Berlin, Germany where the President attended together with the Minister for Industry, Trade and Investment and also the Nigerian Minister of Finance.

According to him, the President made some bold statements calling and wooing German investors and businesses to come to Nigeria and gave assurances that the business climate is conducive.

Onaa said, “He gave assurances that the investors will be given support that they need and not just the investors but also technology suppliers like us. It is on the premise of this that we had the confidence to organize this kind of business exploration trip to Nigeria to find out for ourselves not just based on political statements or what was said in a forum.”

For the Director General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Sola Obadimu, they are seeking bilateral cooperation around SMEs manufacturing facilities.