ABUJA – The Embassy of the Netherlands in Nigeria announced on Wednesday, 7th June 2023, that the Netherlands’ Vice Minister for Foreign Trade, Mrs. Hanneke Schuiling, co-chaired the Netherlands-Nigeria Economic consultation. The purpose of the consultation was to commence negotiations for a modernized bilateral investment protection agreement between the two countries.
The existing trade treaty, established in 1992, was carefully reviewed during the consultation. Both parties expressed their commitment to fostering a more robust and mutually beneficial partnership, with a focus on areas of comparative advantage for both nations. Key priority sectors identified for collaboration included agriculture, renewable energy, healthcare, circular economy, and information and communication technology (ICT).
The Netherlands, known for its expertise in agriculture and renewable energy, seeks to share its knowledge and technology with Nigeria, while also exploring opportunities for investment in these sectors. This collaboration holds the potential for significant advancements in Nigeria’s agricultural practices, renewable energy infrastructure, and overall economic growth.
The healthcare sector was also highlighted as an area for increased cooperation. The Netherlands’ advanced healthcare systems and expertise can support Nigeria in enhancing its healthcare infrastructure, promoting research and development, and improving access to quality healthcare services for its citizens.
The circular economy and ICT were recognized as critical sectors for both countries to explore synergies and facilitate knowledge exchange. The circular economy approach, aimed at reducing waste, promoting sustainability, and maximizing resource efficiency, aligns with the global sustainability agenda. Collaboration in ICT can drive digital innovation and contribute to the growth of Nigeria’s digital economy.
During the consultation, both the Netherlands and Nigeria affirmed their commitment to deepening their trade relationship. Both parties expressed a willingness to work closely together, recognizing the potential for mutual economic growth and development.
