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FG, Arabian chamber move to boost trade, investment

The Federal Ministry of Industry, Trade and Investment has signed a Memorandum of Understanding (MoU) with the Arabian Gulf Chamber of Commerce (NAGCC) to deepen economic relationship between Nigeria and Arabian Gulf countries, especially in the area of trade information, financial and technical support.

Richard Adebayo, minister of industry, trade and investment said the agreement will also facilitate collaboration for the upcoming Expo 2020 Dubai, United Arab Emirates (UAE), promote investment and strengthen business relationships between Nigeria and Gulf Countries.

According to the minister, the agreement would formalise the collaborative business relationship between the ministry and NAGCC, while emphasising that the Nigerian-Arabian Gulf Chamber of Commerce was self-funding and a bilateral trade association dedicated to the development of business relationships.

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According to a statement on Tuesday signed by the deputy director of press and public relations at the ministry, Ibrahim Haruna, the minister speaking at the event which held recently in Abuja, said the agreement will enhance the dissemination of vital market information, host conferences, seminars and business forum to boost business opportunities and funding of the upcoming Expo 2020 Dubai.

The minister was represented by the director, legal of the ministry, Danjuma Muhammed Alhassan at the signing ceremony.

The representative of NAGCC, Theodore Mayaki commended the minister for the initiative and promised to abide by the content of the MoU for the benefit of both parties. NAGCC is a bilateral trade association established to boost trade relationships between Nigeria and other Arabian countries.

It would be recalled that the Nigerian ambassador to the United Arab Emirate (UAE), Muhammed Rimi and his delegation paid a working visit to the minister and the minister of State, Mariam Yalwaji Katagum, in preparation for Nigerian participation in the upcoming Expo ‘ 2020 Dubai, United Arab Emirate (UAE).

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