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CANADA AND NIGERIA TRADE

RELATIONSHIP

Submitted by,
Name: Gloria Anthony
Student ID: 300869569
Professors Name: Farra Yassin
Course Name: Business Culture & Craft
Course Code: BSN733
Date of Submission: 16 08-2016

Executive Summary
This report explores the business relationship between Canada and Nigeria over the past 10
years. Canada has established its business and trade relationship around the globe. Since
Nigerias independence in 1962 Canada build a conciliatory trade relationship. As a symbol of
strong trade relationship Canada is represented by its High Commission in Abuja and also a
Deputy High Commission located in Lagos, both originated in 1999. In 2012 Canada- Nigeria
Bi- National Commission was created and this served as a key forum for bilateral exchanges on
political, trade, development and security issues. As Canada has its High Commission in Nigeria,
in 1973 the High Commission of Nigeria in Ottawa was opened. By welcoming more than
10,000 Nigerian students the relationship got stronger and also Nigeria was Canadas major
source of international students.
Nigeria is rich in minerals, fuels, rubber, lead, and processed food and therefore these are
Canadas main imports. Canada exports wide variety of products ranging from wheat to
manufacturing equipments. Apart from all these friendly affairs both the countries had some of
the differences as per its goals and strategies.
Canada and Nigeria had built a gracious relationship with Nigerias independence in 1962.
Canada is considered to be one of the peaceful nations in the world and Canada has a
multicultural population which makes it even richer. Nigeria is well- known for its resource
richness. The oil and gas is the blooming industry in Nigeria. In Canada Nigeria is represented
by a High Commission in Ottawa. In 1973 the High Commission was opened in Ottawa. Many
students from many countries migrate to Canada for higher education and Canada welcomes
them warmly. Canada and Nigeria has a strong and flourished traded relationship. Along with the

oil sector infrastructure sector also is a major trade area for Nigeria; there has been noticeable
growth in the finance sector over the past years and security issues are still a challenge for
Nigeria.

TABLE OF CONTENT

Introduction------------------------------------------------------------------------------------------------1

Canada- Nigeria Trade Activities ----------------------------------------------------------------------1


Future of Canada Nigeria---------------------------------------------------------------------------------2
Recommendations-----------------------------------------------------------------------------------------3
Conclusion-------------------------------------------------------------------------------------------------3
References-------------------------------------------------------------------------------------------------4

Canada-Nigeria Trade Activities


In 2013, CanadaNigeria merchandise trade totaled $1.6 billion, comprised of $453.6 million in
Canadian exports to, and $1.2 billion in imports from, Nigeria. As per the researches in 2003
Nigeria was considerable terminal around the globe for Canada for the exports. Cereals,
Machinery and equipment, Motor Vehicles parts an Aircraft parts are the major export products
for Canada. Canada imports energy related products, Coca and coca products and rubber.
Canada- Nigeria Foreign Investment Promotion and protection Agreement (FIPA) Negotiations
In 2013 in the capital of Nigeria, Abuja Canada and Nigeria started and finished Foreign
Investment Promotion and Protection Agreement (FIPA). Christian Paradis Canadas Minister of
development along with Nigerian Minister of Industry, Trade and Investment, Olusegun Olutoyin
Aganga on May6, 2014 in Abuja, Nigeria signed the agreement. FIPA will cater to more
predictability and certainty for Canadian investors considering investment opportunities in
Nigeria. Canadas objective in entering these negotiations is to secure a comprehensive, highquality agreement which will protect investors through the establishment of a framework of
legally binding rights and obligations.

Future Of Canada and Nigeria


The strong and well established trade relationship between Canada and Nigeria gives a clear
image of the future trade activities of the two nations. This relationship will have a positive
impact on the growth of both the countries. Canada and Nigeria have signed agreements for
foreign investments and other agreements for the safe and secure investments since there are a
lot of security challenges in the Nigerian economy existing yet.

Recommendations and Conclusion


In a nutshell, to have a smooth conduct of the trade activities between two countries it is
necessary to have a mutual consent and a peaceful understanding. The helpful nature of the
agreements makes it successful for the working of the nations towards the achievement of the set
up goals. It is also a growing platform for many companys because of the import and export
activities between the two nations.

References
Canada-Nigeria Foreign Investment Promotion and Protection Agreement (FIPA) Negotiations.
(n.d.). Retrieved August 16, 2016, from http://www.international.gc.ca/trade-agreementsaccords-commerciaux/agr-acc/fipa-apie/nigeria.aspx?lang=eng
Trade and Investment Series 2013. (n.d.). Retrieved August 16, 2016, from
http://www.lop.parl.gc.ca/content/lop/ResearchPublications/2014-44-e.html
Agreement Between Canada and the Federal Republic of Nigeria for the Promotion and
Protection of Investments. (n.d.). Retrieved August 16, 2016, from
http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/fipa-apie/nigeriaagreement-nigerie.aspx?lang=eng
Canada - Nigeria Relations. (n.d.). Retrieved August 16, 2016, from
http://www.canadainternational.gc.ca/nigeria/bilateral_relations_bilaterales/canada_nigeria.aspx?
lang=eng