Nigeria - USA (Sylodium, import export business)

Nigeria- USA

The United State hosted the eighth meeting of the U.S.-Nigeria Trade and Investment Framework Agreement (TIFA) Council, advancing the two countries' trade and investment interests and strengthening their overall relationship.

Discussions focused on several common objectives, including improving market access, utilizing the African Growth and Opportunity Act (AGOA), protecting intellectual property rights, implementing the new World Trade Organization Trade Facilitation Agreement and improving the bilateral investment climate.

Total U.S.-Nigeria trade (exports plus imports) was valued at $18.2 billion in 2013, USTR said. U.S. imports from Nigeria were valued at $11.7 billion, $11.6 billion of which was crude oil. Non-oil Nigerian exports to the United States under AGOA include leather, prepared vegetables, beans, cocoa paste, spices and cassava.

U.S. exports to Nigeria were valued at $6.5 billion in 2013. Major U.S. exports to Nigeria, USTR said, include mineral fuels, vehicles, wheat, machinery and plastics. U.S. foreign direct investment in Nigeria totaled $8.1 billion in 2012 (the latest data available), up 53.6 percent from 2011.


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