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Nigeria Seeks to Strengthen Trade Ties with Netherlands
The Permanent Secretary of the Federal Ministry of Industry, Trade, and Investment, Dr Evelyn Ngige, said this during a roundtable meeting…
The Permanent Secretary of the Federal Ministry of Industry, Trade, and Investment, Dr Evelyn Ngige, said this during a roundtable meeting on the investment promotion and protection agreement between Nigeria and the Netherlands in Abuja.
The meeting was aimed at boosting economic activity and boosting investor confidence in the country.
The harmonization of the investment treaties will create a more conducive environment for investment and will help to attract more foreign direct investment into Nigeria.
This is good news for the Nigerian economy, as it will help to create jobs, boost economic growth, and improve the standard of living for Nigerians.
According to the permanent secretary, who was represented by the Director of Investment Promotion, Mrs Gertrude Orji: “We believe that continuous collaboration between the two countries will impact positively on our economies.”
She noted that the essence of the meeting was to deliberate on the draft models, taking into consideration both countries’ policy directions.
Earlier in his opening remarks, the Chief Negotiator on Investment Promotion of the Kingdom of Netherlands, Robert van den Dool, stated that his country appreciated the relationship with the Nigerian government, which he described as one of the pillars of socio-economic development, economic cooperation and integration.
“This explains why the Netherlands has taken the initiative to look at their investment promotion in Nigeria to see how they can make this agreement more reflective in the world we live in today,” he stated.
Benefits of harmonizing the investment treaties:
- It will create a more predictable and stable investment environment.
- reducing the risk of disputes between investors and the government.
- It will make it easier for investors to enter and exit the Nigerian market.
- It will attract more foreign direct investment into Nigeria.
Foreign direct investment is essential for economic growth. It brings in new capital, technology, and expertise, which can help to boost productivity and create jobs.
The harmonization of the investment treaties is a positive step for the Nigerian economy. It will help to create a more conducive environment for investment and will help to attract more foreign direct investment into the country.
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