Pakistan, Nigeria agree to fast-track bilateral trade pact, simplify visas

• The development comes as Pakistan intensifies its diplomatic and economic engagement with African nations under its ‘Engage Africa’ policy
• Nigeria stands as Africa’s largest economy with a GDP of over $477 billion, powered by oil and gas reserves, and a burgeoning consumer market

KARACHI: Pakistan and Nigeria have agreed to fast-track a bilateral trade agreement and introduce measures to ease visa procedures for investors and tourists from both countries, the Pakistani commerce ministry said on Friday.

The development came during a meeting in Abuja between the Pakistan prime minister’s coordinator on commerce, Rana Ihsaan Afzal Khan, and Nigerian Foreign Minister Yusuf Maitama Tuggar, wherein they discussed enhancing economic cooperation between the countries.

Pakistan and Nigeria have maintained bilateral relations since establishing diplomatic ties in 1961. Both countries are members of the Commonwealth of Nations and the Organization of Islamic Cooperation, sharing common interests at international forums.

During the meeting, Khan and Tuggar expressed “strong political will” to elevate the Nigeria-Pakistan relationship to new heights by exploring opportunities in energy, agriculture, textiles, pharmaceuticals, information technology and halal trade sectors.

“[The meeting concluded with] agreement to fast-track the finalization and signing of the Nigeria-Pakistan Bilateral Trade Agreement, with technical teams directed to conclude outstanding issues in the shortest possible time,” the Pakistani commerce ministry said in a statement.

“Commitment to introduce measures for greater ease of visa issuance for Pakistani businesspersons, investors, and tourists traveling to Nigeria, and reciprocal facilitation for Nigerian nationals visiting Pakistan.”

It said that Khan also extended an invitation on behalf of PM Shehbaz Sharif to Nigerian President Bola Ahmed Tinubu to visit Pakistan.

Pakistan has been intensifying its diplomatic and economic engagement with African nations under its “Engage Africa” policy in recent years. This week, nearly 20 Pakistani companies showcased a range of beauty and personal care products at the Beauty West Africa Exhibition in Nigeria.

Nigeria stands as Africa’s largest economy with a GDP of over $477 billion, powered by its vast oil and gas reserves, rapidly expanding services and technology sectors, and a burgeoning consumer market, according to the Pakistani commerce ministry.

Home to more than 230 million people, the continent’s biggest population and the world’s sixth-largest, the country possesses an unmatched demographic dividend, with a youthful, dynamic workforce driving entrepreneurship and innovation.

“Both nations expressed confidence that these discussions will lead to tangible economic gains and enhanced people-to-people contacts in the near future,” the commerce ministry said after Khan’s meeting with FM Tuggar.