Leadership (Abuja)
Golu Timothy
6 November 2009
Abuja — The Federal Government and the United Arab Emirates are to set up a commission to encourage joint economic and commercial private sector co-operation between both countries to stimulate foreign investments in Nigeria.
Vice President Goodluck Jonathan stated this while receiving a delegation of foreign affairs officials of the UAE led by Sheik Abdallah Bin Zayid Al Nahyan, a representative of the Crown Prince of the UAE, who paid him a courtesy visit in State House, Abuja yesterday.
This visit is a direct response to Vice President Jonathan's investment tours of Abu Dhabi, UAE, a few weeks ago where he addressed a global business forum to stimulate foreign investors' interest in the Nigeria's emerging economy.
Dr. Jonathan said that apart from economic benefits, commercial cooperation would further strengthen the existing relationship between both countries. The VP, who was recently in Abu Dhabi on an investment tour disclosed that "we held very encouraging discussions with the Crown Prince of UAE that would eventually open up more areas of cooperation between both countries for a productive partnership to fast track Nigeria's development process."
The Vice President also explained that it is very important that the private sector begin to take the lead in economic issues, saying that "it is the private sector that drives the economy. Both governments will soon set up a joint commission comprising the private sector and government officials which would be coordinated by foreign affairs ministers of both countries to facilitate early realization of this objective."
Dr. Jonathan commended the authorities of the UAE for their interest in enhancing and further exploring investment opportunities between both countries. He also thanked them for their plan to extend Etihad air operations from Abu Dhabi to Abuja.
Earlier, Sheik Nahyan, said that the UAE is eager to increase trade and investment between both countries. The representative of the Crown Prince also stated that the UAE is keen on the creation of a joint commission to coordinate the investment drive while investors from his country are willing to meet with Nigerian experts to discuss further.
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