Nigeria and Thailand have signed a Memorandum of Understanding (MoU) on Technical Cooperation, signalling renewed efforts to deepen bilateral economic ties, boost trade and attract investments across key sectors.
The agreement was signed on Tuesday at the Ministry of Foreign Affairs in Abuja by the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, on behalf of Nigeria, and Thailand’s Deputy Prime Minister and Minister of Foreign Affairs, Mr Sihasak Phuangketkeow, for his country.
Odumegwu-Ojukwu said Nigeria was committed to elevating relations with Thailand to a strategic partnership, with economic cooperation serving as a major pillar of the renewed engagement.
She welcomed Thailand’s Thailand-Africa Initiative and called for stronger collaboration between the Nigerian Technical Aid Corps and the Thailand International Cooperation Agency to promote skills development, technology transfer and sustainable development.
The minister also commended the ongoing Thailand-Nigeria Sustainable Agricultural Technology Development Project and proposed its expansion to more parts of Nigeria, alongside increased cooperation in agricultural research, technology and innovation.
She urged both countries to diversify bilateral trade beyond crude oil, rice and agricultural machinery, calling for greater Thai investment and joint ventures in agro-processing, manufacturing, energy, ICT, mining, renewable energy and other value-added industries.
According to her, Nigeria’s large consumer market, investment incentives and growing economic potential offer significant opportunities for Thai businesses seeking to expand their presence in Africa.
Odumegwu-Ojukwu further advocated the establishment of a Joint or Bi-National Commission to institutionalise bilateral economic dialogue, monitor the implementation of agreements and accelerate the conclusion of pending instruments.
The agreements include the Investment Promotion and Protection Agreement, Trade Agreement, and the Agreement on Economic, Scientific, Technical and Cultural Cooperation.
The minister also called for closer engagement between ASEAN and ECOWAS, noting that stronger regional cooperation could unlock new opportunities for trade, investment and sustainable development.
She reaffirmed Nigeria’s commitment to building a stronger economic partnership with Thailand through increased trade, investment, technical cooperation and regular high-level engagements.
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In his remarks, Phuangketkeow described Nigeria as a key economy in Africa, saying a strategic economic partnership between both countries would strengthen investment and trade while delivering positive benefits to their citizens.
The MoU is expected to provide a framework for expanded technical collaboration and support Nigeria and Thailand’s drive to transform their longstanding diplomatic relations into a broader economic partnership.
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