Nigeria, Thailand Sign MoU on Technical Cooperation, Seek Stronger Economic Partnership
Oru Leonard
Nigeria and Thailand have renewed their commitment to deepening bilateral relations, expanding trade and investment, and strengthening technical cooperation for the mutual benefit of both countries.
The commitment was made on Tuesday in Abuja during the signing of a Memorandum of Understanding (MoU) on Technical Cooperation between the two countries.
Nigeria’s Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, signed the agreement on behalf of Nigeria, while Thailand’s Deputy Prime Minister and Minister of Foreign Affairs, H.E. Mr. Sihasak Phuangketkeow, signed for Thailand.
Speaking at the occasion, Odumegwu-Ojukwu welcomed Thailand’s Thailand-Africa Initiative (TAI), describing it as an important platform for expanding cooperation between Thailand and African countries.
She called for stronger collaboration between the Nigerian Technical Aid Corps (NTAC) and the Thailand International Cooperation Agency (TICA), particularly in skills development, technology transfer and sustainable development.
The Minister also commended the ongoing Thailand-Nigeria Sustainable Agricultural Technology Development Project and proposed its expansion to additional parts of Nigeria.
According to her, greater cooperation in agricultural research, technology and innovation would contribute significantly to food security and sustainable development in both countries.
Odumegwu-Ojukwu reaffirmed Nigeria’s desire to elevate its relations with Thailand to the level of a strategic partnership, with economic cooperation serving as a major pillar.
She urged both countries to diversify bilateral trade beyond existing exchanges involving crude oil, rice and agricultural machinery, while encouraging increased Thai investments and joint ventures in agro-processing, manufacturing, energy, information and communications technology, mining and renewable energy.
The Minister highlighted Nigeria’s large consumer market and investment opportunities, urging Thai businesses to take advantage of the country’s investment incentives and growing economic potential.
She further advocated the establishment of a Joint or Bi-National Commission to institutionalise bilateral economic dialogue, monitor the implementation of agreements and facilitate the conclusion of pending bilateral instruments.
These, she noted, include the Investment Promotion and Protection Agreement, Trade Agreement, and Agreement on Economic, Scientific, Technical and Cultural Cooperation.
Nigeria also called for closer engagement between the Association of Southeast Asian Nations (ASEAN) and the Economic Community of West African States (ECOWAS), noting that stronger regional cooperation could create new opportunities for trade, investment and development.
The Minister reiterated Nigeria’s commitment to building a stronger and more productive economic partnership with Thailand through increased trade, investment, technical cooperation and regular high-level engagements.
On his part, Thailand’s Deputy Prime Minister and Foreign Minister, Sihasak Phuangketkeow, described Nigeria as a major economy in Africa and stressed the importance of building a strategic economic partnership between the two countries.
He said stronger bilateral economic relations would promote investment and trade between Nigeria and Thailand while creating positive impacts for the people of both countries.
The signing of the MoU is expected to provide a stronger framework for technical cooperation and further strengthen the longstanding diplomatic and economic relations between Nigeria and Thailand.
(MFA Press)
