The United Arab Emirates Embassy in Nigeria has begun a series of trade and investment development activities aimed at increasing bilateral trade and investment volume between Nigeria and the UAE.

The trade development project, which is being organized in cooperation with the UAE International Investment Council (UAEIIC), the UAE Ministry of Economy, and the Federal Ministry of Industry, Finance, and Investment in Nigeria, aims to recruit key market stakeholders and investors from all sectors in Nigeria and the UAE in order to grow and identify potential trade prospects.

According to a statement released by the UAE Embassy in Nigeria, the country was chosen as one of the 34 countries worldwide to participate in the initiative because of its critical position as a top investment market in the West African region and its overall economic presence in Africa.

Sheikh Shakhboot Bin Nahyan Al Nahyan, UAE Minister of State, Ministry of Foreign Affairs and International Cooperation (MOFAIC), expressed satisfaction with the degree of commercial, political, and cultural relationship that exists between both countries, while defining the UAE/Nigeria economic ties as lasting.

He said, "Nigeria, Africa's largest country, remains a significant and trusted partner for the UAE, which is the ninth largest exporter of Nigeria globally. Both countries have maintained close bilateral ties for decades, especially in the areas of trade and investment. Nigeria's main trading partner in the Middle East is still us, accounting for 35% of the country's overall trade with the region.

High-level diplomatic interactions have occurred in recent years, accompanied by continued reciprocal confidence between the two countries, resulting in the signing of several main agreements aimed at solidifying overall bilateral ties.

"It is my expectation that the current relationship will strengthen as the global economy steadily recovers from the impact of the COVID-19 pandemic, and that investors in both the UAE and Nigeria will take advantage of our increasingly strong ties to benefit from our strategic geographical position and opportunities in both traditional and modern emerging sectors. With non-oil trade between our countries estimated at $1.4 billion in 2019, I would like to see this rise and look forward to working towards it in a mutually beneficial manner," he said.

Dr. Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, expressed faith that the UAE-Nigeria partnership will continue to expand in terms of trade and investment.

"The UAE-Nigeria relationship is undergoing a dynamic transformation characterized by partnership, respect, and shared interests. The two countries are experiencing bilateral trade growth rates, with the level of non-oil trade exchange reaching 1.45 billion dollars by the end of 2019, as our aim is to expand non-oil bilateral trade based on vast trade and investment potentials and exciting prospects in the two countries' markets and critical sectors," he said.

According to the release, the UAE Embassy jointly collaborated with many Nigerian government departments, parastatals, and the private sector in both the UAE and Nigeria to carry out the trade and investment development media campaign.