Belgian Firm Offers To Revive Nigeria’s Free Trade Zones

A Belgian firm, Buck Consultants International, has proposed to revive Nigeria’s free trade zone through direct investment and consultancy services.

Mr Karel Vanroye, the Director of the firm, made the proposal on Tuesday when he paid a courtesy visit to Dr Samuel Ortom, the Minister of State for Trade and Investment, in his office in Abuja.

Vanroye said Nigeria had a lot of free trade zones that were not functioning effectively, and needed to be repositioned.

“We are looking for the acquisition of free trade zones and also looking for investors because we have many clients who are ready to invest in Africa, particularly Nigeria.

“We can revive the free trade zones and create jobs. We are also service providers on policy issues.

“We have noticed that some licences issued to prospective investors in the area are dormant and we need to ask ourselves why.”

He said Nigeria needed to distinguish itself in a competitive international market, adding that his firm was ready to sell Nigeria to the world as a good location for business.

Responding, Ortom said Nigeria was a virgin ground for investment, adding that the Federal Government was providing a conducive atmosphere for investment.

He said the ministry was “focusing on creating jobs and wealth, signing bilateral trade agreements with other nations and developing entrepreneurship through small and medium scale enterprises.”

Ortom said the ministry would collaborate with other ministries to assist the firm once it submitted its detailed proposal.

Free Trade Zones are free ports where goods may be landed, handled, manufactured or reconfigured and re-exported without the intervention of the Customs.