– Dr. Dele Alake advocates for improved Nigeria-UAE trade, focusing on solid minerals. – Discussed illegal gold trade; proposing strategies for legalisation. – UAE Ambassador confirmed commitment to strengthening relations. – Upcoming Nigeria-UAE economic forum to boost investment. – Technical committee to be established for collaboration on mineral trade.
Dr. Dele Alake, Nigeria’s Minister of Solid Minerals Development, is advocating for enhanced trade relations with the United Arab Emirates (UAE), particularly in the solid minerals sector. During a meeting with UAE Ambassador Salem Shaeed Al Shamsi in Abuja, Alake referenced the historical ties between Nigeria and the UAE, urging a focus on mining collaboration. He pointed out the challenges of illegal gold trade, with much Nigerian gold being smuggled into the UAE, and proposed developing strategies to legalise trade practices. Alake noted Nigeria’s vast mineral resources and highlighted the UAE’s role as a trade hub, expressing interest in technology transfer to improve Nigeria’s mining capabilities. Ambassador Al Shamsi reiterated the UAE’s commitment to strengthening ties, mentioning recent improvements in visa processes and an upcoming Nigeria-UAE economic forum aimed at boosting investment. Both nations agreed to form a technical committee to tackle illegal mineral trade and promote legitimate commerce.
The relationship between Nigeria and the UAE has been developing for over five decades, focusing on various sectors including trade and investment. The solid minerals sector, particularly gold, presents significant opportunities for collaboration but has been marred by issues related to illegal trade. The UAE serves as a crucial link in the global mineral trade, making it an important partner for Nigeria, which possesses a wealth of mineral resources. Improving trade relations involves addressing regulatory challenges and enhancing legal frameworks governing the mining trade.
The push for expanded trade relations between Nigeria and the UAE highlights the importance of collaboration in the solid minerals sector. Addressing illegal gold trade and establishing regulatory measures will benefit both nations economically. The upcoming economic forum promises to further strengthen bilateral ties and encourage foreign investment in Nigeria’s mining industry.
Original Source: thenationonlineng.net