Nigeria, Thailand Deepen Economic Ties, Sign MoU on Technical Cooperation.
By Owolola Adebola
Nigeria and Thailand have moved to strengthen their bilateral relations, with both countries signing a Memorandum of Understanding (MoU) on Technical Cooperation and expressing renewed commitment to expanding trade, investment and economic partnership.
The agreement was signed on Tuesday 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, Mr. Sihasak Phuangketkeow.
The development is expected to provide a broader framework for cooperation in skills development, technology transfer, agriculture, innovation and other areas of mutual interest.
Speaking at the signing ceremony, Ambassador Odumegwu-Ojukwu said Nigeria was interested in elevating its relationship with Thailand to the level of a strategic partnership, with economic cooperation serving as one of its major pillars.
She welcomed Thailand’s Thailand-Africa Initiative (TAI), describing it as an opportunity to deepen engagement between the two countries and the wider African continent.
The Minister particularly called for stronger collaboration between the Nigerian Technical Aid Corps (NTAC) and the Thailand International Cooperation Agency (TICA), stressing that greater cooperation in technical training, skills acquisition and technology transfer would contribute significantly to sustainable development.
She also commended the ongoing Thailand-Nigeria Sustainable Agricultural Technology Development Project and advocated its expansion to additional parts of Nigeria.
According to her, closer collaboration in agricultural research, modern technology and innovation could help improve productivity, strengthen food security and create new economic opportunities for Nigerian farmers and businesses.
Beyond agriculture, the minister called for a significant expansion of bilateral trade and investment.
She urged both countries to move beyond their existing commercial exchanges, particularly in crude oil, rice and agricultural machinery, to explore opportunities in agro-processing, manufacturing, energy, information and communications technology, mining, renewable energy and other value-added sectors.
Ambassador Odumegwu-Ojukwu also drew the attention of Thai investors to Nigeria’s large consumer market and growing investment opportunities, urging Thai businesses to take advantage of available investment incentives and the country’s vast economic potential.
To ensure that agreements between the two countries translate into tangible results, she proposed the establishment of a Joint or Bi-National Commission to institutionalise bilateral economic dialogue, monitor the implementation of agreements and accelerate negotiations on pending bilateral instruments.
Among the agreements identified for urgent attention are the Investment Promotion and Protection Agreement, Trade Agreement, and Agreement on Economic, Scientific, Technical and Cultural Cooperation.
Nigeria also advocated closer engagement between the Association of Southeast Asian Nations (ASEAN) and the Economic Community of West African States (ECOWAS), arguing that stronger institutional links between the two regional blocs could create new opportunities for trade, investment, technology transfer and sustainable development.
The Nigerian government reaffirmed its commitment to building a stronger and more productive partnership with Thailand through increased trade, investment, technical cooperation and regular high-level engagements.
On his part, Thailand’s Deputy Prime Minister and Foreign Minister, Sihasak Phuangketkeow, described Nigeria as a major economy in Africa and stressed the importance of strengthening economic relations between the two countries.
He said a strategic economic partnership between Nigeria and Thailand would help stimulate investment, expand bilateral trade and create positive economic impacts for the citizens of both countries.
The signing of the MoU marks a fresh step in Nigeria-Thailand relations and underscores the determination of both governments to transform their longstanding diplomatic ties into a more dynamic partnership driven by trade, investment, technology and shared economic interests.
