Nigeria and the United Arab Emirates are working towards establishing a joint commission to deepen collaboration across several sectors. This development was disclosed by Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, following her meeting with the UAE's Deputy Prime Minister and Minister of Foreign Affairs, H.H. Sheikh Abdullah bin Zayed Al Nahyan. The meeting took place on the sidelines of the 81st session of the United Nations General Assembly in New York.
The two countries share exceptionally warm bilateral relations, with trade volumes at approximately $5 billion. High-level diplomacy between Nigerian President H.E President Bola Ahmed Tinubu, UAE President H.E Sheikh Mohamed bin Zayed Al Nahyan, and UAE's Ambassador to Nigeria, H E Salem Mohammed Al Shamsi has smoothed over past visa and aviation friction. This has paved the way for stronger economic ties between the two nations.
The proposed commission is expected to provide a framework for both countries to institutionalize cooperation and advance agreements covering trade, investment, technology, security, and other areas of mutual interest. The commission will also track the ratification and implementation of the Comprehensive Economic Partnership Agreement. This agreement aims to promote economic cooperation and reduce trade barriers between the two countries.
The joint commission will also explore emerging partnerships in Artificial Intelligence (AI), security and defense, fintech, and banking. This move is expected to boost economic growth and create new opportunities for businesses and investors in both countries. The UAE is one of Nigeria's largest trading partners, and this development is expected to further strengthen economic ties between the two nations.
Earlier this year, H.E Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State of the UAE, met with His Excellency President Bola Ahmed Tinubu, President of the Federal Republic of Nigeria, in Abuja during an official visit to Nigeria. The visit aimed to solidify economic and people-to-people ties between the two countries. The meeting was a significant step towards strengthening bilateral relations and promoting economic cooperation.
The Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, expressed her pleasure in meeting H.H. Sheikh Abdullah bin Zayed Al Nahyan in New York. She noted that the two countries have a strong foundation for cooperation, and the joint commission will help to build on this foundation. The commission is expected to be established in the coming months, and its activities will be closely watched by businesses and investors in both countries.
The establishment of the joint commission is a significant development in the relations between Nigeria and the UAE. It demonstrates the commitment of both countries to strengthening economic ties and promoting cooperation across several sectors. The commission is expected to play a key role in promoting economic growth and development in both countries.
Key points
- The proposed joint commission will provide a framework for Nigeria and the UAE to institutionalize cooperation and advance agreements covering trade, investment, technology, security, and other areas of mutual interest.
