Dele Alake, Nigeria’s Minister of Solid Minerals Development, and UAE Ambassador Salem Shaeed Al Shamsi are working to enhance bilateral trade in solid minerals. They aim to tackle illegal gold trade and establish a regulatory framework while exploring technology transfer and upcoming forums to boost investments.
Dele Alake, the Minister of Solid Minerals Development, is advocating for stronger trade relations between Nigeria and the UAE, focusing on the solid minerals sector. During a meeting with UAE Ambassador Salem Shaeed Al Shamsi, Alake underscored the historical ties shared over the past 50 years and stressed the potential for expanded cooperation in mining. He noted the issues surrounding illegal gold trade, suggesting joint efforts to create a regulatory framework for legal trade, enabling both countries to benefit. Alake highlighted Nigeria’s rich variety of minerals and the UAE’s role as a pivotal market for minerals, proposing partnerships in technology transfer to enhance Nigeria’s mining capabilities. In response, Ambassador Al Shamsi reaffirmed the UAE’s commitment to strengthening bilateral relations, highlighting recent visa policy changes and a signed MOU between UAE firms and Nigeria through the Solid Minerals Development Fund. He mentioned an upcoming Nigeria-UAE economic forum in Nigeria, featuring 30 to 35 major companies from the UAE, aimed at increasing foreign investments in Nigeria. Both nations agreed to form a technical committee to tackle illegal mineral trade and promote legitimate business practices.
The meeting between Dele Alake and Ambassador Salem Shaeed Al Shamsi marks an important step in enhancing trade relations between Nigeria and the UAE, particularly in the solid minerals sector. Nigeria possesses a wealth of minerals, and the UAE serves as a major trading hub. There has been a longstanding concern regarding illegal gold trade, making it imperative for both nations to establish frameworks that support legitimate trade while maximising mutual benefits.
In summary, the dialogue between the Nigerian minister and the UAE ambassador underscores a strong mutual interest in enhancing trade relations focused on solid minerals. By addressing illegal transactions and signing agreements, both nations are poised to foster economic growth and strengthen their long-standing partnership.
Original Source: tribuneonlineng.com