UAE and Nigeria... promising economic prospects

 

H.E. Sheikh Shakhboot bin Nahyan Al Nahyan Minister of State, Ministry of Foreign Affairs and International Cooperation (MOFAIC)

 

As the ninth largest exporter to Nigeria globally, the UAE continues to see Nigeria, the largest economy in Africa, as an important, trusted partner. For decades, both countries have continued to nurture strong bilateral relations, particularly in the areas of trade and investment. To date, we remain Nigeria’s largest trade partner in the Middle East region, accounting for 35 percent of Nigeria’s total trade with the region. Over the past few years, there have been high-level political exchanges amid continuing mutual trust between both countries, which has led to the signing of several key agreements aimed at solidifying overall bilateral relations. It is my desire that the existing relationship continue to grow as the global economy gradually recovers from the effects of the COVID-19 pandemic, and I hope that investors in both the UAE and Nigeria will take advantage of our increasingly close ties to benefit from our strategic geographical location and the opportunities across both conventional and new emerging sectors. With non-oil trade between our nations valued at $1.4b in 2019, I would like to see this increase and look forward to working towards this in a mutual beneficial manner.