Monday, 5 October 2015

NCBA promotes bilateral relationship expresses concern over exchange rate

by Desmond Okon:
In its quest to strengthen bilateral business relationship between Nigeria and Canada, and to encourage quality products and services, the Nigerian Canadian Business Association (NCBA), has taken the initiative to broaden the knowledge base of its members in doing business.
The event which was held at the Lagos Resource Centre was attended by the Canadian Deputy High Commissioner, NCBA, Lajos Arendas, various representatives of companies and other business associates was aimed at enlightening Nigerian companies on the need for internet marketing. It also gave companies the opportunity to present and demonstrate their products and to network with other foreign companies present.
Speaking to Business Day, the Secretary, NCBA, Ebi Obaro, said “the NCBA was set up to harness business between both countries. Prior to now, a lot of Canadian companies were unwilling to come to Nigeria for business, but with the setting up of the association we’ve been able to support, encourage and provide opportunities for them to visit the association and do presentation of their products and services as well as bringing Nigerian companies to be part of the association in order to encourage networking between both countries which will lead to a better business relationship and partnership.”
She added that the business relationship between Nigeria and Canada in the last few years has grown as there has been an increase in the number of Canadian companies coming into the country and an increase in the number of Nigerian companies establishing businesses in Canada. “The whole idea of the association is to promote business between both countries”, she said.
Stressing on the importance of partnering with foreign companies Obaro said that: “Nigeria is a developing nation, so we need people who have the expertise to assist in developing our products to meet international market standards. Even in the oil sector, there are so many things that need foreign inputs for them to meet international standards.” She also stated that almost every sphere of the economy, be it petrol, mining or transport needs foreign partners to develop it because “Nigeria does not have what it takes to set those big structures and man them”.
Explaining what took place at the event, the Secretary who also doubles as the President of Maple Education, Canada, said that: “We brought in a Canadian company to us about digital marketing and how to promote our product online and the advantages of exploiting the internet in marketing. We also had companies that are part of the association showcase their product so that we can buy from them and subscribe to their services.”
She however expressed concern over the dwindling nature of the economy especially the exchange rate saying that it is affecting business in Nigeria.
According to her, the poor state of the economy has hindered remuneration in dollars and as a result, the majority of their members of staff can no longer earn dollars, “this is affecting business”, she said.

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