Detroit, MI – May, 2013
African World Expo and the city of Farmington Hills have hosted a business forum for the visiting Nigerian-American Chamber of Commerce trade delegation to mark the end of a 4-city U.S. tour which begun in April in Washington, DC.
The city of Farmington Hills and its surrounding area is the hub of over 900 business establishments representing 700 foreign-parent firms. “Farmington Hills understand the value of international business collaborations,” stated Efiong, Executive Director of the African World Expo. That’s why we are extremely excited about this business forum and we are really looking forward to providing an opportunity for the Nigerian delegation to be introduced to and be able to begin meaningful dialogue with American businesses.” The forum presented a unique opportunity for both Nigerian and Michigan companies to meet in order to facilitate business between Michigan and Nigeria.
With over 170 million inhabitants Nigeria is a strong resource base, with tremendous economic growth prospects. The Nigerian governmental emphasis on investing in developing the country’s infrastructure and industry, positions Nigeria to offer significant opportunities for exports of U.S. equipment, technology and services. Nigerian leaders have embarked on programs to dramatically expand the country’s electrical energy generation capacity, improve its roads and bridges, commercialize its impressive natural gas resources, and revitalize its manufacturing sector. “A positive orientation toward U.S. products, services, and technology, makes Nigeria a market U.S. companies need to include in their international business development plans”, stated Efiong.
The forum helped businesses learn about trade financial services offered by U.S. commercial banks and trade financing agencies. It also provided information on how to enter new markets, access working capital, find buyers, establish credit, and identify financial support, as well as information on protection against nonpayment, and strategies to improve cash flow.
The event was organized by the African World Expo in partnership with Watts Partners, Nigerian American Chamber of Commerce, Core Logistics, and the Nigerian Embassy in Washington DC.
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