Biju Koshy Emerges Chairman ASSOCHAM, Nigeria Business Promotion Council

[caption id="attachment_9582" align="alignnone" width="600"]Biju Koshy[/caption]

Nigeria says it is doing everything possible to ensure that bilateral and trade relations with India are consolidated for the benefit of the two countries.

Minister of Industry, Trade and Investment, Dr. Okechukwu Enelama, made the pledge Tuesday at the Transcorp Hilton Hotel Abuja, venue of the launch of the ASSOCHAM India – Nigeria Business Promotion Council where a Nigerian based Indian businessman, Biju Koshy, was formally decorated as the chairman of the Association of Chambers of Commerce (ASSOCHAM).

The minister said since Nigeria is the most important economic power in Africa while India is Asia’s business destination hub, the setting up of ASSOCHAM in Nigeria was very timely, as it comes at a period when the Nigerian government is implementing several reforms aimed at diversifying the economy to free it from over dependence on oil.

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Speaking while declaring the event open, the president of ASSOCHAM, Sunil Kanoria, expressed delight for the opportunity to be Nigeria, disclosing that ASSOCHAM is one of the oldest industrial associations in India with over 450,000 members and has so far opened branches in 10 countries in Africa.

Kanoria said ASSOCHAM was established to serve as catalyst and facilitator for Indian businesses abroad, through policy advocacy especially in favour of small and medium enterprises which he said are the driving forces for economic development of any nation, adding that the need to set up the association in Nigeria was long overdue as Indian companies are playing vital roles in Nigeria spanning across steel development, pharmacy, ICT, super speciality hospitals, manufacturing, construction and retailing among other areas.

“Apart from our trade and business linkages, what unites our two economies is the nature of our societies, our past as well as present challenges that we have to deal with. Both Nigeria and India are developing economies with large multi-ethnic, multi-religious populations and both share a colonial past.

“We share common perspectives on international politics, social and development issues as manifested in different fora like the United Nations and World Trade Organisation, etc. Both shared the solidarity of the Non Aligned era, both have aspirations of regional leadership and to be significant on the world stage,” Kanoria said.

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In his own remarks, the Indian High Commissioner (designate) to Nigeria, B. N Reddy, said as the fastest growing economy in the world, India is a country that Nigeria, being the largest economy in Africa would benefit from both in trade as well as other opportunities.

According to him, India, like Nigeria, faces challenges of youth employment but has through the initiation of several schemes, is tackling those social issues, adding that India is ready to partner with Nigeria in more areas for the benefit of both countries.

Others who spoke at the occasion include former Minister and World Bank Vice President, Mrs. Oby Ezekwesili and president of Association of Cement Manufactures of Nigeria, Engr. Joseph Makoju of Dangote Cement.

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