President Muhammadu Buhari has asserted Nigeria’s desire to widen the scope of its trade relations with South Korea beyond gas exports.
Buhari mentioned the country’s interest during a meeting with South Korean President, Yoon Suk-Yeol, on the sidelines of the first World Bio summit at the Presidential Palace in Seoul.
According to a statement, by his Special Adviser on Media and Publicity, Mr. Femi Adesina, the President called for expansion from the long-term gas contract to other areas.
On piracy in the Gulf of Guinea to which Korean ships had fallen victim, President Buhari noted that the level of attacks had decreased considerably over the last year due to the provision of equipment to the Nigerian Navy and Nigerian Maritime Administration and Safety Agency (NIMASA) by the Nigerian government, while also praising the Korean government for the supply of a vessel to the Navy.
Buhari also met with representatives of strategic Korean companies and industries on the sidelines of the Summit.
He urged them to increase their investments in Nigeria, assuring them of his administration’s targeted efforts at improving the domestic business environment for all investors.
“Nigeria remains committed to creating a stable and enabling business environment for foreign investors through the formulation of sound economic policies and improved governance,” he said.
He added that “the security forces have been working assiduously with local communities to ensure the security of lives and properties of Nigerians and foreign investors.”
