Nigeria, UK affirm commitment to strengthening bilateral trade relations
Nigeria and the United Kingdom have affirmed their commitment to removing barriers to bilateral trade relationship between the two countries.
They took the decision at the 7th ministerial meeting of UK-Nigeria Economic Development Forum held in London.
This is contained in a statement issued on Wednesday in Abuja by Mr. Ifedayo Sayo, the Special Assistant on Media to the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo.
Sayo said that the two countries also pledged to establish a working group to enhance their trade partnership.
According to him, they planned to focus on how the present trade relations can be enhanced.
The statement quoted Adebayo as saying “Nigeria is committed to implementing reforms that can attract more Foreign Direct Investments (FDIs) into key industries, boost trade and development and create employment opportunities for youth by leveraging technology.
“We welcome the commitment to enhancing the relationship between our two countries today and underscore the significance of deepening our bilateral trade policy relationship in a mutually beneficial manner.’’
The Nigerian delegation was led by the minister.
The Minister of State for Finance, Budget and National Planning, Mr. Clem Agba and Nigeria’s Chief Trade Negotiator, Dr Yonov Agah accompanied Adebayo to the event.
The UK delegation was led by the Minister for International Trade, Penny Mordaunt.
The statement said that the goal of the meeting was to deliberate on specific economic challenges faced by both countries and how to remove critical market access barriers to trade relations.
The meeting also provided an opportunity for Trade Ministers of both countries to be updated on the outcome of a lower level business dialogue between UK business operators in Nigeria and the Federal Government.
It also served as a platform to share relevant updates on implementation of commitments by both countries to address challenges faced by UK investors in Nigeria.
