Nigeria and the Kingdom of Saudi Arabia have signed a new Memorandum of Understanding,, MoU, on economic and trade cooperation, defence, security and human trafficking.
The signing of the agreements as well as other Memoranda of Understanding, MoUs, which took place in Abuja, at the Formal Joint Commission Session and closing ceremony of the Second Session of the Nigeria-Saudi Arabia Joint Commission is in a bid to deepen relations between the two countries.
The MOUs on investment, as well as promotion and protection agreement on the avoidance of double taxation were put on hold due to the absence of consensus, during the negations.
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The Nigerian Minister of State for Foreign Affairs, Ambassador Zubairu Dada, expressed Nigeria’s commitment to implementing the agreements, and MoUs that the two countries signed, with a view to elevating their cooperation to a higher level.
The Head of the Saudi delegation and Deputy Minister of the Environment, Water and Agriculture, Ahmed Elkhemshi said the most important incident is that the session witnessed the signing of an agreement between the Federation of Saudi Chambers and the Federation of Nigerian Chambers, to provide opportunities for the private sector of both countries.
Elkhemshi noted, that the MoUs and agreements were based on the desire of the Governments of the Kingdom of Saudi Arabia and Nigeria to enhance joint cooperation, deepen the existing bonds of friendship between the two countries
