{"id":41186,"date":"2022-03-11T12:22:14","date_gmt":"2022-03-11T12:22:14","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=41186"},"modified":"2022-03-11T12:22:18","modified_gmt":"2022-03-11T12:22:18","slug":"korea-nigeria-trade-hits-2bn","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/korea-nigeria-trade-hits-2bn\/","title":{"rendered":"Korea, Nigeria trade hits $2bn &nbsp;"},"content":{"rendered":"<p>The Korean Ambassador to Nigeria, Mr. Kim Young Chae, has said has unveiled the volume of trade between the country and Nigeria which rose to $2 billion in 2021. &nbsp;<\/p>\n\n\n\n<p>Chae said on Thursday when he addressed the media on the heels of the election of Yoon Suk-yeol as South Korea\u2019s President-elect on Wednesday. &nbsp;<\/p>\n\n\n\n<p>He said the bilateral trade figure was a 50 per cent increase in compared to that of 2020. He said the boost in bilateral trade occurred in spite of the COVID-19 pandemic. &nbsp;<\/p>\n\n\n\n<p>\u201cI hope that this year our bilateral trade rises further and at the end of the day I want to see Nigeria become Korea\u2019s biggest trading partner in Africa. &nbsp;<\/p>\n\n\n\n<p>Nigeria is the biggest economy in Africa, so it should be Korea\u2019s number trading partner among Africa\u2019s countries,\u201d Kim said. &nbsp;<\/p>\n\n\n\n<p>Presently, Nigeria is Korea\u2019s third biggest trading partner in Africa. &nbsp;<\/p>\n\n\n\n<p>The ambassador said the balance of trade between both countries was driven mainly by Korea\u2019s manufactured goods, like plastic and aluminum related products and Nigeria\u2019s oil and gas. &nbsp;<\/p>\n\n\n\n<p>\u201cWe are importing a lot of Nigerian gas to further increase our bilateral trade. Of course oil and gas is very important, but we want to see some agricultural products from Nigeria and manufactured goods in order to penetrate into Korean market. &nbsp;<\/p>\n\n\n\n<p>\u201cI hope more Nigerian companies will study Korean markets and Korean consumers. For example, we import a lot of sesame seed and I know that Nigeria produces a lot of sesame seed. There is a huge potential for Nigeria\u2019s sesame seed or sesame oil,\u201d he said. &nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.arise.tv\/volume-of-nigeria-korea-bilateral-trade-hits-2bn\/\">More=Arise= \u00a0<\/a><\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-41186\" data-postid=\"41186\" class=\"themify_builder_content themify_builder_content-41186 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The Korean Ambassador to Nigeria, Mr. Kim Young Chae, has said has unveiled the volume of trade between the country and Nigeria which rose to $2 billion in 2021. &nbsp; Chae said on Thursday when he addressed the media on the heels of the election of Yoon Suk-yeol as South Korea\u2019s President-elect on Wednesday. &nbsp; [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":41187,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241,126],"tags":[44],"class_list":["post-41186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","category-trade-and-industry","tag-trade","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Korea, Nigeria trade hits $2bn &nbsp; 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