Nigeria, US sign MoU on commercial investment instrument

21 Novembre 2017

Abuja, Nigeria, November 21 (Infosplusgabon) - Nigeria and the United States of America on Tuesday signed a Memorandum of Understanding (MoU) on an investment instrument titled US-Nigeria Commercial Investment Dialogue (CID), designed to deepen commercial and investment ties between the two countries.

Nigeria’s Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, signed the MoU  while U.S. Secretary of Commerce Wilbur Ross signed on behalf the U.S. at a ceremony held at the Federal Ministry of Industry, Trade and Investment in Abuja.

The CID allows for exchange of information between business communities and the governments on key commercial and investment matters of importance to improving the business climate, foster greater economic growth, modernization and job creation.

With the agreement signed, Nigeria and the U.S. committed to strength commercial and investment relationship by leveraging private sector participation; targeting the elimination of trade barriers and other obstacles to commercial and investment relationships; modernization, and integration into the global economy through value supply chains; and cooperation for mutual benefit among others

Enelamah said: “We’re delighted this has come to fruition, following dialogue that commenced with the previous administration of President Barack Obama to the current government of President Donald Trump. This continues to demonstrate our commitment as a government to leverage partnerships for economic growth and development.”

In response, Mr. Ross stated: “The CID, the newest instrument of U.S. engagement with Nigeria, is different in that it leverages the voice of the private sector in the effort to enhance the bilateral commercial and investment relationship. I am encouraged that the CID will be an effective tool to partnering with the private sector to deepen our bilateral trade and investment relationship.”

The CID will be co-chaired at the ministerial level by the Minister of Industry, Trade, and Investment and the U.S. Secretary of Commerce.

Initial focus areas are infrastructure, agriculture, digital economy, investment and regulatory reform

FIN/INFOSPLUSGABON/PLM/ GABON 2017

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