Salama at the first Nigeria-Egypt Forum in Abuja recently, said the record was far under the expectations and capabilities of the two economies.
The envoy said there is need for both countries to work together to explore the business opportunities available in their various domains.
He said both countries should synergise “to boost the bilateral trade in the near future by utilising the opportunities available for business in Egypt and Nigeria.”
Salama urged the two countries to tap into the vast resources and expertise available to them.
“Our countries have vast resources and the two nations have the same aspirations that centre on economic prosperity, youth empowerment, viable education systems, better services and equal development and opportunities.
“The embassy is working with the relevant authorities in Egypt and Nigeria to set the legal framework that would facilitate the movement of people and goods between our countries.”
Bello was represented by Mrs Gana Wakili, a director in the Commission.
He said that with “the creation of the favourable investment atmosphere in the country by the Federal Government, the return on investment is between 50 and 70 per cent.”
According to him, the Federal Government has provided several incentives which include tax holiday of up to five years, 100 per cent profit repatriation among others.
Alhaji Mohammed Lere, President, Nigeria-Egypt Business Council, said the aim of the council was to open doors for business activities between the two countries.
Lere noted that the council was trying to strengthen the partnership with Egypt to see how to attract investors into the health, energy and other sectors.
The president who noted with concern that Nigerians spend millions of dollars every year to seek medical care in Egypt said with the partnership, Egyptian investors could invest in the health sector.
He believes that such investment could save Nigeria the capital flight and provide employment opportunities for the youths.
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