Abu Dhabi, Nigeria discuss economic cooperation

Abu Dhabi, Aug 4, 2008 (WAM) - Ways to further promote trade and economic relations between Abu Dhabi and Nigeria yesterday were discussed by Director General of Abu Dhabi Chamber of Commerce and Industry (ADCCI) Mohammed Rashid Al-Hamli and Nigerian Ambassador to the UAE Alhaji Bashir Yuguda.

At the meeting which took place in Abu Dhabi, the two sides also discussed Abu Dhabi's potential imports of Nigerian construction iron bars produces as per the standards set by the Gulf Cooperation Council (GCC).

Al-Hamli called on Nigerian businessmen and investors to tap opportunities
currently being offered by the economy of the emirate of Abu Dhabi. A large
number of Nigerian investors are looking forward to investments in the
emirate, said Yuguda who added that the Nigerian President will pay a visit
to the United Arab Emirate to sign a number of agreements.

"Potential Nigerian exports to the UAE could include Cotton, rubber, beans,
cocoa, soya beans, Arabian gum, and tea. Aluminium and precious metals such
as gold and diamond," he added.

The Nigerian envoy said his country is considering the application for loans
from Abu Dhabi to fund agricultural projects. He said Nigeria is ready to
prepare vast stretches of lands for UAE investments in the food security in
the country. "UAE companies are already investing in the Nigerian telecom
market and Abu Dhabi's Mubadala Development Company (Mubadala), a leading
business development and investment company based in Abu Dhabi, is looking
forward to enter Nigerian markets," he noted adding that Abu Dhabi's Etihad
Airways has launched a two-way cargo service to Abuja and is poised to
launch a direct service between the capitals of the two countries by the end
of the current year.