Nigeria, Vietnam Advance Industrial Cooperation and Job Creation

Nigeria, Vietnam Advance Industrial Cooperation and Job Creation

Nigeria and Vietnam have agreed to strengthen economic cooperation with a focus on trade, investment and the revitalisation of the textile industry.

The agreement was reached during a meeting in Abuja between Nigeria’s Minister of State for Foreign Affairs, Sola Enikanolaiye, and Vietnam’s Deputy Foreign Minister, Le Anh Tuan.

According to a statement by the Ministry of Foreign Affairs, Vietnam urged the speedy conclusion of agreements on investment protection and the avoidance of double taxation to enhance investor confidence and facilitate business growth between the two countries.

Enikanolaiye reaffirmed Nigeria’s readiness to collaborate with Vietnam on industrial development, technology transfer and skills acquisition to boost job creation. He noted Vietnam’s remarkable achievements in the textile and garment industry, describing it as a model for Nigeria’s industrial aspirations.

Both countries also agreed to hold their first Political Consultation session in Vietnam by 2027 and emphasized the importance of private sector participation in driving economic cooperation. The minister added that the partnership aligns with Nigeria’s Strategic Autonomy policy aimed at expanding trade relations beyond traditional partners.