Nigeria, Pakistan sign $1bm trade deals

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tlndefaultNigeria and Pakistan have signed a series of agreements to increase the value of their trade to at least $1 billion within the next five years.In the presence of journalists in Abuja on Tuesday, the deals were reached at a bilateral discussion between President Goodluck Jonathan and his Pakistani counterpart, Mr. Mamnoon Hussain.

Hussain is on a three-day state visit to Nigeria beginning on Tuesday.

The agreements will cover agriculture, industrial cooperation and cultural exchanges between the two countries.

Other sectors covered by the deal cooperation over narcotics, anti-terrorism, security, poverty reduction and human capacity development.

The current trade volume between Nigeria and Pakistan is less than $100 million, a figure described by both countries as extremely low.

President Goodluck Jonathan and the Pakistani leader underscored the need to institutionalise existing economic partnership, air services agreement and exchange of prisoners, in addition to deals over oil and gas, education, agriculture and industrial development.

Hussain said a Pakistan Commercial Station would be opened in Lagos on Wednesday to give fillip to cooperation which would extend to counter-terrorism measures.

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