OREANDA-NEWS. December 19, 2011. Wisco shipped 2,000 tons of cold rolled steel sheets to Nigeria, Africa’s second-largest economy, reported the press-centre of Wisco.

Before, Wisco has mainly exported products to the developed area, namely South Africa. During the 2006-2010 period, Wisco shipped approximately 170,000 tons of steel products to South Africa, accounting for 95 percent of all exports from Wisco to Africa in the given period. Since this year, Wisco International Trade Company has been making every endeavor to carry out group’s export strategy of exploiting emerging markets, which should be neither sensitive nor in developed area, go deep into market potential on this continent, especially those featured with giant development potential and relatively lesser risks.

It takes full advantages of overseas branches, proactively integrates overseas quality resources, develops overseas trade channels from omnibearing, and regulates exports structure, so as to implement Wisco’s strategy of “walking out”.

Being a major trade window in South Asia, Wisco’s subsidiary Indian Trade Company, insists on neither sensitive nor in developed area market developing strategy, via the tight relationship between India and the Middle East as well as entity invested in the Middle East by India enterprises to radiate Wisco’s capability.

In August this year, Wisco Indian subsidiary learnt that India-based Ruchi Group, one of the top ten private enterprises, invested in a steel processing service center in Nigeria, which would require annual supplies of hot and cold rolled steel at 250 thousand tons. The subsidiary sensitively felt a good opportunity to open up West African market. Nigeria, Africa’s second-largest economy, is also one of the fastest developing economies in Africa.

In recent years, it has moved forward rapidly with annual GDP growth at 7-8%, become America’s greatest trade partner in Africa, and attracted investments and business from all over the world including Chinese enterprises such as Huawei and ZTE, showing immense market potential. Through thorough investigation and repeated communication, Wisco Indian Trade Company finally succeeded in signing the trial protocol for first batch of 2000 tons cold rolled steel for Nigeria project.