Nigeria, Vietnam Seek Stronger Economic Ties, Bilateral Cooperation

Nigeria, Vietnam Seek Stronger Economic Ties, Bilateral Cooperation

Nigeria and Vietnam have reaffirmed their commitment to strengthening bilateral relations, with both countries expressing readiness to deepen cooperation in trade, investment and other strategic sectors.

The Minister of State for Foreign Affairs, Sola Enikanolaiye, made the commitment during a meeting with Vietnam’s Deputy Minister of Foreign Affairs, Le Anh Tuan, and members of his delegation.

The discussions reaffirmed the longstanding cordial relations between Nigeria and Vietnam and underscored the shared determination of both governments to transform their strong political ties into tangible economic and commercial benefits for their citizens.

During the meeting, the Vietnamese Deputy Foreign Minister emphasised the need to strengthen the legal and institutional framework guiding bilateral cooperation. He called for the early conclusion and implementation of key agreements, including Memoranda of Understanding, investment promotion and protection agreements, double taxation avoidance agreements and other cooperation frameworks aimed at facilitating trade and investment between both countries.

According to him, the proposed legal instruments would provide greater certainty for investors and businesses while creating a stronger foundation for expanded economic cooperation.

Responding, Ambassador Enikanolaiye welcomed the steady progress in Nigeria-Vietnam relations and reaffirmed Nigeria’s commitment to broadening collaboration in political, economic, commercial and technical fields.

He stressed the importance of regular high-level engagements and reciprocal official visits in strengthening bilateral relations, expressing Nigeria’s readiness to undertake an official visit to Vietnam in the near future.

The minister also welcomed ongoing discussions on the possibility of a future state visit by President Bola Ahmed Tinubu to Vietnam as part of efforts to further deepen relations between the two countries.

Nigeria, Vietnam Seek Stronger Economic Ties, Bilateral Cooperation