Germany, Nigeria trade volume shrinks €3.5bn, effects of economic downturn in Africa nation
October 23, 20171.4K views0 comments
Bernhard Schlagheck, the German Ambassador to Nigeria disclosed Monday in Abuja that the volume of trade between Nigeria and Germany shrank to 3.5 billion Euros in 2016.
In an interview with NAN, Schlagheck said that the trade volume dropped by about 2.5 billion Euros from six billion Euros recorded in 2015.
The envoy blamed the fall on the economic downturn in Nigeria, expressing his determination to work toward increasing the volume of trade between the two countries.
He said that as part of efforts to deepen bilateral economic relations, the German Government was supporting market exploration missions by business delegations to Nigeria.
Schlagheck said that Germany had committed millions of Euros to vocational training in Nigeria and was prepared to keep promoting the programmes.
“The German Government has a whole range of activities in various states in this country and we have invested 50 million Euros in vocational training in Nigeria in a year.
“We are doing a lot of other training in Nigeria. In various states, we have projects of German enterprises with some private partners.
“So, we have whole lots of training to enhance capacity building in Nigeria.”
Schlagheck said that a training session on technical facility management through Germany Dual Vocational Training (DVT) in partnership with the Abuja Chamber of Commerce had just been concluded in Abuja.
According to him, DVT system is the commonest form of vocational training in Germany.
The envoy explained that “dual” in this context meant a combination of practical, on-the-job training and theoretical education at a vocational school to ensure a proper balance of theory and practice.