FG, NAGCC seal pact to boost investment, ties

The Federal government and the Nigeria—Arabian Gulf Chamber of Commerce have signed a Memorandum of Understanding (MoU) to facilitate investment promotion, strengthen business relationships between Nigeria and Gulf countries especially at the upcoming Expo 2020 in Dubai.

Speaking at a brief ceremony yesterday in Abuja, the Minister of Industry, Trade and Investment, Richard Adeniyi Adebayo, said the partnership will further enhance dissemination of vital market information to boost business opportunities and funding of the upcoming Expo 2020 Dubai beginning from October, 2021.

Represented by the Director, Legal in the Ministry, Danjuma Muhammed Alhassan, the Minister stressed that the agreement would formalise a collaborative business relationship between the Ministry and NAGCC, emphasizing that the chamber is self-funded and a bilateral trade association dedicated to the development of business relationships.

”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, finance and technical support” Adebayo added.

Earlier, the Representative of Nigerian Arabian Gulf Chamber of Commerce (NAGCC), Theodore Mayaki, commended the Minister for the initiative, while promising to abide by the content of the MoU for the benefit of both parties.

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