The Nigerian-British Chamber of Commerce (NBCC) has unveiled the Nigerian-British Trade Centre to boost exports, attract investment, and increase market access between Nigeria and the UK.

NBCC President, Mr Ray Atelly, at the launch on Thursday in Lagos, said the initiative would stimulate economic activities and strengthen bilateral trade ties between both nations.

Atelly described the centre as more than a trade hub. He said it would support economic diversification and encourage cultural exchange between Nigeria and the United Kingdom.

“The trade centre reflects the need for a facility housing trade information and experts on investment matters,” Atelly said.

He added that the centre would support trade decisions by providing information on export opportunities from Nigeria to the UK.

According to him, the facility will serve as a one-stop shop for market intelligence, documentation, and decision-making for both Nigerian and British businesses.

Mr Mark Smithson, Country Director, British Department for Business and Trade, described the centre as another tool to deepen UK-Nigerian trade relations.

He urged Nigerian exporters to explore the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) for better trade engagement.

Smithson said ETIP includes a chapter on export diversification, helping Nigeria realise its goal of expanding export sectors.

He highlighted the Developing Countries Trading Scheme (DCTS), launched in 2023, which offers tariff relief to Nigerian exporters.

According to him, between 2,000 and 3,000 Nigerian products may qualify for low or zero tariffs under the DCTS.

“We encourage Nigerian growers and businesses to seize the DCTS and ETIP opportunities to build a balanced trade relationship,” Smithson stated.

He noted that the decline in crude exports creates an opportunity for other goods like sesame seeds, vegetables, and cashew nuts.

Smithson said the UK government fully supports this shift by offering tariff-free access to encourage Nigerian exporters.

He advised exporters to meet quality standards required by the UK, EU, US, and other developed economies to remain competitive.

Smithson reaffirmed the UK’s commitment to fair trade with Nigeria through low or zero tariff access for qualifying products.

He encouraged businesses to leverage the Nigerian-British Trade Centre and assured ongoing support from the Department for Business and Trade.

“The trade centre is a valuable platform to support and complement our efforts in fostering trade between both countries,” he said.

He added that forming strong partnerships is key and praised the NBCC as a vital ally in raising awareness of trade opportunities.

“We fully support the NBCC and will work with them to ensure the trade centre benefits both Nigerian and UK businesses,” he said. (NAN) (www.nannews.ng)

Edited by Kamal Tayo Oropo