Dele Alake, Nigeria’s Minister of Solid Minerals Development, has called for enhanced trade relations with the UAE, specifically in solid minerals. During a meeting with UAE Ambassador Salem Al Shamsi, the importance of curbing illegal gold trade was highlighted, with proposals for regulatory cooperation. Both parties agreed to form a technical committee to promote legitimate commerce and announced an upcoming economic forum to facilitate foreign investments.
Dele Alake, the Minister of Solid Minerals Development in Nigeria, has advocated for strengthening trade relations between Nigeria and the United Arab Emirates (UAE), focusing particularly on the solid minerals sector. During a meeting with the UAE Ambassador to Nigeria, Salem Shaeed Al Shamsi, Alake emphasized the importance of the long-standing, over 50-year relationship between the two countries. He pointed out the potential for enhanced collaboration in the mining industry, especially in light of the ongoing illegal gold trade, which sees considerable amounts of Nigerian gold being smuggled to the UAE. The minister proposed the development of strategies to curb this illicit trade and establish regulatory frameworks to legitimize the mineral commerce, thereby allowing both nations to reap maximum benefits. Alake underscored Nigeria’s abundant resources of globally sought-after minerals and highlighted that the UAE, being a significant hub for mineral trading, could greatly benefit from a deeper partnership. He expressed an interest in collaborating with UAE entities on technology transfer to uplift Nigeria’s mining sector. Ambassador Al Shamsi reciprocated by affirming the UAE’s commitment to enhancing its relationship with Nigeria. He cited the recent lifting of visa restrictions and the signing of a Memorandum of Understanding (MOU) involving UAE firms and Nigeria through the Solid Minerals Development Fund (SMDF) as a solid foundation for bilateral relations. Furthermore, the ambassador announced an upcoming Nigeria-UAE economic forum scheduled to occur in Nigeria, which is set to attract between 30 to 35 major companies from the Middle East and UAE to encourage Foreign Direct Investments (FDI) in Nigeria. In an effort to mitigate illegal mineral trading while promoting lawful business, both nations agreed to form a technical committee for further cooperation discussions.
This article discusses the recent diplomatic engagements between Nigeria and the UAE, centering on the solid minerals trade. The meeting between the Nigerian Minister of Solid Minerals Development and the UAE Ambassador underscores the historical ties between the two nations and highlights the need for improved collaboration in the mining sector. Nigeria, rich in mineral resources, faces challenges due to illegal gold trade, prompting calls for strategic partnerships to legitimize this trade and foster technological advancements within Nigeria’s mining industry.
In conclusion, the discourse between Nigerian and UAE officials signals a pivotal move towards fortifying economic ties within the solid minerals sector. The planned initiatives aim to address the challenges posed by illegal mineral trade while fostering legitimate business opportunities. Enhanced collaboration can lead to significant advantages for both nations in the realm of mining.
Original Source: tribuneonlineng.com
