Nigeria, Indonesia Sign MoU On Bilateral Trade

The Nigerian Investment Promotion Commission (NIPC) and the Nigerian Indonesian Chambers of Commerce and Industry (NICCI) have signed an MoU to facilitate and promote bilateral trade and industrial relations between Nigeria and Indonesia.

Information obtained from the NIPC Intelligence Newsletter on Sunday said that this was a build-up to the hosting of a Trade & Investment Forum billed to take place from March 5 – 20, 2022 in Jakarta, Indonesia.

TheFact Nigeria gathered that NIPC’s acting Executive Secretary/CEO, Mr Emeka Offor signed the MoU on behalf of the Commission while the President of NICCI, Mr Ishmael Balogun signed on behalf of the Chamber.

The MoU with NICCI renews an earlier agreement signed between both parties – which elapsed in 2019.

TheFact Nigeria also recalled that on January 31 2022, the NIPC Intelligence Newsletter had published the outcome of a meeting between both parties where they expressed enthusiasm about the potential of their partnership to exponentially improve the trade and investment relations between Nigeria and Indonesia.

This current agreement is for the period of a year commencing from 16 February 2022 and reads in part:

“NIPC  hereby collaborates with NICCI to facilitate and promote bilateral commercial trade and industrial relations  with the primary goal of attracting foreign direct investment between Nigeria and Indonesia.”

The MoU signed is a testament to the resolve of both parties to see this through.

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