PRESIDENT SEEKS TO EXPAND TRADE RELATIONS WITH SOUTH KOREA

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In a meeting with South Korean President, Yoon Suk-Tell, on the sidelines of the first World Bio Summit at the Presidential Palace in Seoul, The President of Nigeria, Muhammadu Buhari, declared interest to expand trade relations with South Korea beyond gas exports. Buhari noted that the rate of piracy attacks in the Gulf of Guinea to which Korean ships had fallen victim, had greatly reduced since last year. This is as a result of providing top equipment to the Nigerian Navy and Nigerian Maritime Administration and Safety Agency (NIMASA) by the government of Nigeria. He further praised the government of Korea for supplying a vessel to the Navy, and hoped for a better defence and security cooperation with the Republic of Korea. The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said that the President called for expansion from the long-term gas contract to other areas.

President Yoon Suk-Yeol had earlier sympathized with Nigeria over the effects of flood on her land, and citizens. Buhari appreciated him for expressing sympathy with Nigerians, and for inviting him to address the World Bio Summit.

Nigeria is Africa’s largest economy and cultural powerhouse in terms of massive film production; on that premise, President Buhari expressed confidence in the Nation’s ability to contribute greatly to exchanges between both nations. South Korea indicated interest to run for a seat on the Security Council in 2024, and sought the support of Nigeria as they believe there is need for cooperation at the multilateral level.

Buhari urged South Korea to increase investments in Nigeria, assuring them that the domestic business environment for foreign investors were greatly worked on by his administration. A call was made by Buhari during a meeting with the African Group of Ambassadors accredited to the Republic of Korea, on the sidelines of the Summit. He charged them to project the interests of the continent as a unified front, guided by the objectives of the African Union (AU) Charter and the AU Agenda 2063.

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