The United States Department of Commerce and Nigeria’s Ministry of Industry Trade and Investment (MITI) signed a Memorandum of Understanding to officially open a new bilateral policy instrument focused on trade and investment between the two countries.
The MoU which was signed yesterday us designed to diverse, increase, and sustain trade and investment between Nigeria and the United States of America.
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The U.S, Nigeria Commercial and Investment Dialogue (CID) is the newest instrument of U.S engagement with Nigeria. The CID leverage the voice of the private sector in the effort to boost the bilateral commercial and investment relationship.
Nigeria’s Minister of Industry Trade and Investment, Dr. Okechukwu Enelemah, signed the document in the Presence of the U.S Deputy Assistant Secretary Seward L. Johns, Jr., according to a report on its official website.
The document, according to the United States, had been previously signed in Washington by Secretary of Commerce Wilbur L. Ross, Jr.
The plan to establish the CID started many months ago by the two countries and it initially expected to focus on agriculture, infrastructure, digital economy, investment, and regulatory reform.
President Muhammadu Buhari had, during the US-Africa Business Summit in New York, had announced his support for the CID and Dr. Enelemah has worked selflessly with many US officials to at the Department of Commerce to bring about yesterday’s signing.
The initiative is expected to start in early 2018 at a meeting which will be co-chaired by Secretary Ross and Minister Enelemahh
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