Nigeria-Korea Trade Reaches $1.1bn as Both Countries Seek Diversification

Trade between Nigeria and the Republic of Korea reached approximately $1.1 billion last year, Korean Ambassador Jeong Yo-an said at a meeting in Abuja. He called for diversifying exchanges now dominated by Nigerian oil and gas exports and Korean automobiles, electronics and machinery, with cooperation extending to manufacturing, agriculture, digital technology and maritime services. Korea is interested in vehicle assembly, agricultural machinery for rice farmers and investment in local production, while also seeing opportunities for Korean beauty products in Nigeria. Nigerian buyers can meet Korean companies at the Korean pavilion at the Beauty West Africa exhibition on November 13.