The Nigeria Bilateral Economic and Investment Forum is a Trade Mission; which is an international trip where business executives travel together as a delegation to foreign destinations and occasionally, are accompanied by government officials.
It is also an activity that allows participants to gain knowledge of a foreign country’s culture through direct contact with local business people and government representatives.
The Forum will provide businesses with significant advantages if they are exploring the opportunity to expand their operations overseas, or wishing to trade (exporting or importing) with countries they haven’t done so previously. The Forum will open doors and fast track companies to engage in dialogue with the right companies and just as importantly the right individuals on one trip.
The Nigeria Bilateral Economic and Investment Forum is a function that will provides learning experience which allows participating firms to acquire information and expand their knowledge of the exporting process. the forum allow potential exporters to learn:
(1) How business is conducted overseas,
(2) what services and products are available,
(3) the receptivity of potential buyers,
(4) the extent of the commitment and resources necessary to sell in overseas markets, and
(5) The answers to questions about foreign markets and the process of exporting
The Purpose of the Bilateral Economic and Investment Forum
The current view of trade mission is that it encourage traders (exporters and importers) to explore and assess market opportunities, and provide access to decision makers in the public and private sectors that are otherwise difficult to reach. It can thus be seen as a tool to lay foundations for future business in new markets.
Nigeria Bilateral Economic and Investment Forum can have certain positive effects:
• Facilitating market research
• Participants collectively devoting more effort to market investigation
• Greater promotional impact on market
• Carrying a certain news value and serving trade publicity
• Gaining access to high level business and government officials
• Providing wider and deeper contact coverage
• Raising general consciousness in the home country about foreign markets
• Providing important educational experience for inexperienced exporters
• Providing beneficial intra-group exchanges and contact for experienced traders
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