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Nigeria invites Austrian investment in cotton growing
13
Mar '12
Nigeria has invited Austria to invest in cotton cultivation in the country as well as to procure raw cotton from it.

On a visit to Austria's Vorarlberg Province, Ms Maria Laose, the Nigerian Ambassador to Austria, informed the Governor of Vorarlberg, Mr. Markus Wallner regarding several investment prospects in Nigeria, including the ones on the side of cotton cultivation.

Ms. Laose called upon the Austrian Government to explore the prospect of procuring raw cotton from Nigeria by investing in cotton cultivation there.

This, she said, would generate many new jobs for Nigerians, curtail illegal immigration and most importantly, revolutionize the one-sided lace trade, while promoting and strengthening the economic ties between the two economies.

The Austrian province of Voralberg is known for producing lace and embroidery materials, which are commonly used by Nigerians for embellishing their traditional and ceremonial outfits.

The envoy said Nigeria procures over €50 million of lace and embroidery materials from Austria each year.

Nigeria, recognized as Africa's biggest economy with vast market, has the potential to serve as a supply channel for Austrian lace to entire West African sub-continent, she added.

Fibre2fashion News Desk - India


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