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The United Arab Emirates (UAE), on Wednesday, mentioned Nigeria remained the biggest economic system in Africa.

This was contained in an announcement signed by the Embassy of UAE in Abuja and made out there to the Information Company of Nigeria (NAN).

It said that the Embassy had commenced a sequence of commerce and funding promotion actions aimed toward bolstering the bilateral commerce and funding quantity between Nigeria and the UAE.

NAN experiences that the commerce promotion initiative was coordinated in collaboration with the UAE Worldwide Funding Council (UAEIIC), the UAE Ministry of Financial system and the Federal Ministry of Trade, Commerce and Funding in Nigeria.

In accordance with the Embassy, the initiative focuses on attracting key business stakeholders and buyers throughout all sectors in Nigeria and the UAE in a bid to develop and discover future commerce alternatives.

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“Nigeria has been chosen among the many 34 chosen international locations globally taking part within the initiative due to its pivotal place as a high funding market within the West African area and its general financial affect in Africa,” mentioned the assertion.

The UAE Minister of State, Ministry of Overseas Affairs and Worldwide Cooperation (MOFAIC), Sheikh Shakhboot Al Nahyan, expressed satisfaction with the extent of commerce, political and cultural partnership that exists between each international locations.

“UAE is the ninth-largest exporter to Nigeria globally, the UAE continues to see Nigeria as the biggest economic system in Africa and in addition an necessary, trusted associate.

“For many years, each international locations have continued to nurture sturdy bilateral relations, notably within the areas of commerce and funding.

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“So far, we stay Nigeria’s largest commerce associate within the Center East area, accounting for 35 per cent of Nigeria’s complete commerce with the area,” he mentioned.

He added that over the previous few years, there had been high-level political exchanges amid persevering with mutual belief between each international locations, which led to the signing of a number of key agreements aimed toward solidifying general bilateral relations.

“It’s my need that the prevailing relationship continues to develop as the worldwide economic system step by step recovers from the consequences of the COVID-19 pandemic.

“Valued at 1.4 billion {dollars} in 2019, I’ll prefer to see this improve and sit up for working towards this in a mutually helpful method,” he mentioned.

 

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