logo logo

Nigeria strengthens partnership with UAE to boost economy

The Guardian (Nigeria) | 24 June 2024

Nigeria strengthens partnership with UAE to boost economy

by Oluyemi Ogunseyin

Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, revealed the details of the partnership on Monday.

“I am pleased to announce that today, my team and I had a highly productive meeting with His Excellency, Salem Saeed Al-Shamsi, UAE Ambassador to Nigeria, along with distinguished UAE delegates,” Uzoka-Anite wrote on X.

“Our discussions on the Comprehensive Economic Partnership Agreement (CEPA) between Nigeria and the United Arab Emirates were incredibly progressive.”

She disclosed that key advancements include significant strides in aligning shared goals for economic cooperation as well as exchange of trade data and initial draft texts.

Others are the establishment of Thematic Working Groups to cover critical areas such as trade in goods, services, investment protection and more.

The Minister said CEPA aims to boost trade and investment between both Nigeria and UAE
as well as promote business community benefits.

She stated that CEPA aims to facilitate customs cooperation and trade facilitation while it will also enhance legal and institutional frameworks.

“We are on track to achieve a clear timetable for the next steps, with further intersessional meetings scheduled to ensure continuous progress,” Uzoka-Anite said.

“Stay tuned for more updates as we move closer to a formal agreement that will significantly benefit both countries’ economies. Together, we are building a prosperous future for Nigeria and the UAE.”

 source: The Guardian (Nigeria)