As part of efforts to enhance economic growth and job creation, Nigeria has partnered with the Netherlands to set up a Dutch agro-industrial park in the country.

The deal was sealed by Nigeria’s Minister of Industry, Trade and Investment, Olusegun Aganga, during a meeting with Netherlands Minister of Foreign Trade and Development Cooperation, Lilianne Ploumen, on the sidelines of the Nigeria-Netherlands Business and Investment Forum in The Hague, Netherlands, a statement released by the Senior Special Assistant on Corporate Communications to the Minister of Industry, Trade and Investment, Yemi Kolapo, said.

The ministers has agreed to set up a technical team to ensure expediency in delivering the project.

Speaking on the win-win economic relationship with Netherland, Aganga said, “The Netherlands has a well-developed food processing industry. They are also the largest producers and exporters of food. This, combined with the availability of raw materials and the large market in Nigeria, will give rise to a successful partnership on the establishment of an industrial zone on food processing in Nigeria.”

Meanwhile, the dutch Foreign Trade minister revealed that the country was setting up a €700 million ($930 million) growth fund – to be launched in January- to help its small and medium-scale enterprises to invest in growth areas.

Netherland also consented to the Nigerian government’s proposal to put SMEs in Africa’s second-largest economy on the list beneficiaries to growth fund, so as to expand their businesses and invest in thriving sectors.

Relatively, both countries have agreed to work together to tackle the problems, which led to a decline in the volume of trade between them in 2012.

A major problem identified was the unfavourable visa regime, particularly the absence of a Consular office for the Netherlands in Nigeria which the Dutch government has promised to reinstate.