Nigeria is in talks to secure trade agreements with several Global South countries and Gulf states as it seeks to spur investment into critical infrastructure needed to become a trillion-dollar economy by 2030, the country\u2019s trade minister told Semafor.<\/p>\n
A bilateral trade deal agreed<\/a> this week with the United Arab Emirates will see the mutual elimination of tariffs on thousands of goods. It is one of many future partnerships that Nigeria hopes will increase investment in its energy, power, road, and rail projects, said Trade Minister Jumoke Oduwole in an interview.<\/p>\n \u201cWe have been pursuing some other agreements that are at different stages,\u201d said Oduwole. \u201cWe are looking at countries whose investors want to invest in big infrastructure projects.\u201d China, Brazil<\/a>, India, the Gulf region, and Latin America have been the main countries or regions where Nigeria has been cultivating relationships in recent years that could yield potential investments. Oduwole added that these recent discussions marked \u201ca clear evolution\u201d in Nigeria\u2019s approach to trade.<\/p>\n Companies from the UAE backed projects worth about $110 billion<\/a> in Africa between 2019 and 2023, and in November the Emirates announced an initiative to invest $1 billion in African AI infrastructure. Nigeria became only the second African country after Mauritius with which the UAE has agreed a Comprehensive Economic Partnership Agreement<\/a>, the Emirates\u2019 signature bilateral trade agreement first entered into with India in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"Nigeria is in talks to secure trade agreements with several Global South countries and Gulf states as it…\n","protected":false},"author":2,"featured_media":242422,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":{"0":"post-242421","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-il","11":"tag-israel"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/242421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=242421"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/242421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/242422"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=242421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=242421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=242421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}