Kuwait desires higher level of cooperation with Nigeria

Kuwait Chamber of Commerce and Industry (KCCI) aspires to lift the long-time political-social ties with Nigeria to a new level for cementing commercial and economic bonds, said a KCCI member on Monday. Kuwait is seeking to bolster and activate the "investment ties with Nigeria and enhance the commercial exchanges between the two countries," said Usama Al-Nisf in a statement to journalists during a visit by a Nigerian delegation to the chamber headquarters. Reciprocal visits by Kuwaiti and Nigerian officials to the two countries can contribute to enhancing the commercial exchanges, he said, noting that such visits constitute an opportunity for the two countries to discuss obstacles facing bids to improve the commercial ties, namely with regard of facilitating flow of capitals and establishing necessary legal regulations for protecting entrepreneurs. The chamber receives many representatives of friendly nations for talks on prospective investments, he said, noting its keenness on getting acquainted with the legal rules in these nations. Al-Nisf expressed hope the current Nigerian delegation's visit would be successful and pave the way for further progress in the bilateral commercial and economic ties, as well as for activating links between Kuwaiti and Nigerian businessmen. For his part, the chairman of the Nigerian Exports Council shed light on investment potentials in his country. Nigeria offers plentiful facilities for foreign investors in the economic, agricultural, energy and leather sectors. Kuwait and Nigeria had signed agreements for economic cooperation, namely the accord for averting double taxation in 2011.