‎Nigeria has secured duty-free access for more than 7,000 products into the United Arab Emirates, UAE, following the signing of a Comprehensive Economic Partnership Agreement (CEPA) between both countries.
‎This is a move expected to boost exports and open new opportunities for Nigerian businesses and workers.
‎The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, revealed this while speaking on the deliverables of the agreement,
‎According to her, CEPA prioritized market access for Nigerian goods and services, facilitated quality investment inflows, and advanced economic diversification under the Renewed Hope Agenda of President Bola Tinubu.
‎She further revealed that over the next three to five years, the UAE would also remove tariffs on key Nigerian exports, including machinery, vehicles, electrical equipment, apparel and furniture.
‎In addition, Dr Oduwole noted that the agreement allowed Nigerian businesses to freely establish operations in the UAE through new corporate entities, branches and subsidiaries, expanding market access and investment opportunities.
‎The agreement, described as a historic milestone in the nation’s trade relations, is the result of focused and determined negotiations led by the Federal Ministry of Industry, Trade and Investment,
Edited by Favour Owonibi.