Nigeria and Thailand have signed a Memorandum of Understanding (MoU) on Technical Cooperation as both countries seek to strengthen economic relations, expand trade and attract greater investment.
The agreement was signed at the Ministry of Foreign Affairs in Abuja by Nigeria’s Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, and Thailand’s Deputy Prime Minister and Minister of Foreign Affairs, H.E. Mr. Sihasak Phuangketkeow.
According to a statement by the Special Assistant on Communication and New Media to the Minister of Foreign Affairs, Dr. Magnus Eze, Odumegwu-Ojukwu said Nigeria was committed to deepening bilateral cooperation with Thailand for the mutual benefit of both countries.
The minister welcomed Thailand’s Thailand-Africa Initiative (TAI) and called for stronger collaboration between Nigeria’s Technical Aid Corps (NTAC) and the Thailand International Cooperation Agency (TICA) to promote skills development, technology transfer and sustainable development.
She also commended the ongoing Thailand-Nigeria Sustainable Agricultural Technology Development Project and proposed its expansion to more parts of Nigeria. According to her, greater cooperation in agricultural research, technology and innovation would support development efforts in the sector.
Odumegwu-Ojukwu reaffirmed Nigeria’s desire to elevate relations with Thailand to the level of a strategic partnership, identifying economic cooperation as a key pillar of the proposed relationship.
She called for the diversification of bilateral trade beyond crude oil, rice and agricultural machinery, urging increased Thai investments and joint ventures in agro-processing, manufacturing, energy, information and communications technology (ICT), mining and renewable energy.
The minister highlighted Nigeria’s large consumer market and investment opportunities, encouraging Thai businesses to take advantage of available incentives in the country.
Beyond trade and investment, the proposed partnership is expected to provide new opportunities for Nigeria’s technology sector through increased collaboration in ICT, innovation and technical skills development.
Stronger ties between both countries could facilitate technology transfer, support digital capacity building and open new avenues for partnerships between Nigerian and Thai technology firms.
The cooperation could also boost innovation in sectors such as agri-tech, renewable energy technology and digital services, while helping to strengthen Nigeria’s growing digital economy.
Odumegwu-Ojukwu further advocated the establishment of a Joint or Bi-National Commission to institutionalise bilateral economic dialogue, monitor the implementation of agreements and facilitate the conclusion of pending instruments, including the Investment Promotion and Protection Agreement, Trade Agreement, and Agreement on Economic, Scientific, Technical and Cultural Cooperation.
She also called for closer engagement between the Association of Southeast Asian Nations (ASEAN) and the Economic Community of West African States (ECOWAS), saying stronger regional cooperation could unlock new opportunities for trade, investment and development.
Odumegwu-Ojukwu reaffirmed Nigeria’s commitment to building a stronger economic partnership with Thailand through increased trade, investment, technical cooperation and regular high-level engagements.
In his remarks, Phuangketkeow described Nigeria as a major economy in Africa and said a strategic economic partnership between the two countries would strengthen investment and trade relations while delivering benefits to their citizens.
The signing of the MoU marks a new step in efforts by both countries to broaden cooperation in economic development, technical assistance, technology transfer and investment promotion, with both sides expressing optimism about future collaboration across key sectors of their economies.
