PRESIDENT BUHARI SEEKS EXPANDED TRADE RELATIONS WITH SOUTH KOREA

PRESIDENT BUHARI SEEKS EXPANDED TRADE RELATIONS WITH SOUTH KOREA

President Muhammadu Buhari Wednesday in Seoul, expressed Nigeria’s desire to widen the scope of trade relations with the Republic of Korea beyond gas exports.

 

Special adviser to the president on media and publicity, Mr Femi Adesina in a statement conveyed that the president during a bilateral meeting with his Korean counterpart, Mr. Yoon Suk-Yeol in Korea on the sidelines of the First World Bio Summit 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, he noted that the level of attacks had decreased considerably over the last one year due to the provision of equipment to the Nigerian Navy and Nigerian Maritime Administration and Safety Agency (NIMASA) by the Nigerian government, 

Commending the Korean government for the supply of a vessel to the Nigerian Navy, he said that he looks forward to enhanced defence and security cooperation with the Republic of Korea.

 

The President, who thanked his Korean counterpart for inviting him to address the World Bio Summit, also appreciated him for expressing sympathy with Nigerians on the flood disaster.

 

Earlier, President Suk-Yeol had sympathized with President Buhari over the massive havoc and human losses caused by flood in his country.

 

He described Nigeria as Africa’s largest economy and cultural powerhouse that produces huge number of films, expressing confidence that Nigeria’s economic and cultural capabilities will contribute significantly to exchanges and cooperation between both countries.

 

Both leaders also discussed the need for cooperation at the multilateral level, particularly at the United Nations with South Korea indicating interest to vie for a seat on the Security Council in 2024 and seeking Nigeria’s support. Similarly, the Korean leader sought Nigeria’s support for his country’s plan to host the 2030 EXPO.

 

The issue of peace on the Korean Peninsula, demilitarization and denuclearization of the region also featured in the bilateral talks.