Nigeria, UK Move To Increase FDI ..... As Nigeria Hosts Inaugural Nigeria-UK Business Dialogue Under Enhanced Trade and Investment Partnership MoU
...... As both countries reaffirms commitment to strengthen and deepen trade relationship towards increasing reciprocal Foreign Direct Investment (FDI).
Historically, Nigeria and the United Kingdom have enjoyed robust bilateral trade and investment relations, a statement from the Federal Ministry of Industry, Trade and Investment reveals.
According to the statement which was released on Wednesday, 25th September in Abuja, "In the four quarters leading up to the first quarter of 2024, Nigeria was the UK’s 39th largest trading partner. During this period, Nigeria’s exports to the UK amounted to £2.4 billion, while UK imports to Nigeria stood at £4.1 billion in the 4th quarter of 2023."
Giving this clarification is the Permanent Secretary of the Ministry, Ambassador Nura Abba Rimi, saying "Nigeria is pleased to host the first edition of the Nigeria-UK Business Dialogue, a key event under the Enhanced Trade and Investment Partnership Memorandum of Understanding (MoU) signed on February 13, 2024.
According to Amb. Abba Rimi, "This dialogue seeks to create a dynamic forum for stakeholders from both countries to participate in meaningful talks, share best practices, and explore joint opportunities in important areas such as agriculture, energy, technology, and manufacturing."
He noted that "The Nigeria-UK Business Dialogue is an excellent event that marks a significant step towards developing trade relations and increasing economic collaboration between the two countries.
"By encouraging investments in important sectors such as agriculture, manufacturing, and infrastructure, both countries can boost growth and generate chances for joint ventures and increased relationships. This cooperation focusses on establishing and strengthening trade institutions, as well as promoting trade facilitation. As a result, it is critical that the working group's findings build on its principles and enhance its conclusions." Amb. Rimi stated
The British Deputy High Commissioner, Jonny Baxter, in his address said; “Today’s inaugural Enhanced Trade and Investment Partnership Business Dialogue builds on the first of its kind partnership for the UK in Africa.
“This new platform enables us to build on successes from the UK-Nigeria Economic Development Forum to resolve more market access barriers, our joint commitment to develop novel systems for businesses to efficiently raise issues, and work towards practical solutions.
“The overall deepening of our cooperation underscores our shared efforts to enhance trade across current and new sectors, support businesses and boost economic growth between our two countries.”
This was the statement issued and signed by Dr Adebayo Lawrence Thomas, Director Press and Public Relations (FMITI) and made available to journalists.
No comments:
Drop Comment