Business

FG, Arab Chamber of Commerce sign MoU to boost trade relations with gulf countries

Author:
Mary Ugbodaga

The federal government has signed a memorandum of understanding (MoU) with the Arab Chamber of Commerce to facilitate collaboration for the upcoming Expo 2020 Dubai.

Ibrahim Haruna, director of the press and public relations department at the ministry of industry, trade and investment, stated this in a statement on Tuesday.

Niyi Adebayo, minister of industry, trade and investment, explained that the MoU was not limited to the area of trade forum alone.

Adebayo, represented by Danjuma Alhassan, legal director of his ministry, said the agreement would strengthen business relationships and promote enhanced trade relations between Nigeria and Gulf countries.

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He also said the MoU would further enhance the dissemination of vital market information, host conferences, seminars and business forums.

“To boost business opportunities and funding of the upcoming Expo 2020 Dubai, the agreement would formalise a collaborative business relationship between the ministry and Nigerian Arabian Gulf Chamber of Commerce,” Adebayo said.

“Cultural and socio-economic forum between Nigeria and all the Gulf Cooperation Council Countries (GCCC) is aimed at the promotion and facilitation of economic relationship between Nigeria and Arabian Gulf Countries especially in the area of trade information and financial and technical support.”

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The expo, originally scheduled to run between October 20, 2020 and April 10, 2021, will now hold March 31, 2022, in the United Arab Emirates (UAE) due to the COVID-19 pandemic.

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