The trade volume between Nigeria and Korea hit the two billion-dollar mark in 2021 rising by about 50 per cent. The Republic of Korea Ambassador to Nigeria, Kim Young-Chae, who disclosed this in Abuja, yesterday, challenged Nigerian companies to study the market needs of the Republic to produce what is needed and the standard required.
The Ambassador said there is enough potential to further increase the trade if Nigerian companies prioritise the study of the standards and specifications of what is needed in Korea, especially agricultural products.
“The trade volume between Nigeria and the Republic of Korea was around two billion dollars in 2021 which was an increment of about 50 per cent on what it used to be. The balance of trade between the countries is balanced because while Korea exports manufacturing goods into Nigeria, it also imports a lot of gas and crude oil from Nigeria…
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