Nigeria and Thailand are moving to broaden their economic relationship, with both countries exploring fresh opportunities in trade, investment and business partnerships across agriculture, technology, renewable energy and other productive sectors.

The development followed discussions on Wednesday at the Presidential Villa in Abuja between Vice President Kashim Shettima and a Thai delegation led by the country’s Deputy Prime Minister and Foreign Affairs Minister, H.E. Yousef Hassan Khalawi.

Shettima represented President Bola Tinubu at the meeting and said Nigeria was interested in repositioning its relationship with Thailand by expanding cooperation beyond established areas such as crude oil and rice.

According to the Vice President, Thailand’s experience in applying intermediate technology to agriculture and related sectors could provide useful opportunities for Nigeria as the country works to raise productivity and improve food security.

“I believe that our relationship should go beyond transactions in crude oil, rice production and so on. So, there is a need for us to review our bilateral relationship at a strategic level,” Shettima said.

He listed agriculture, ICT, renewable energy and solid minerals among the sectors where Nigeria sees substantial prospects for Thai investment and business partnerships.

“Nigeria is a large market. There are enormous opportunities for partnership and investment in agriculture, ICT, renewable energy, and solid minerals, and we have a young population and workforce,” he said.

Shettima also encouraged Thai companies and investors to explore Nigeria’s sizeable consumer market, youthful population, natural resources and strategic position within the African continent.

Khalawi, in turn, described Nigeria as a strategic partner for Thailand and an influential voice in the Global South. He pointed to Nigeria’s expanding e-commerce sector as another area where the two countries could strengthen cooperation.

The Thai Deputy Prime Minister also disclosed that Thailand was proposing a Thailand-Africa Initiative designed to provide a wider framework for deepening relations with key African countries.

The proposed initiative is expected to promote stronger economic and business relationships, people-to-people engagement and cooperation in priority areas, with particular emphasis on agriculture.

The latest discussions come as Nigeria and Thailand pursue a deeper economic relationship aimed at opening new opportunities for businesses, investors and entrepreneurs to gain access to markets, technology and potential partnerships.

Senior officials from both countries attended the meeting, including Nigeria’s Permanent Secretary in the Ministry of Foreign Affairs, Amb. Dunoma Umar Ahmed, and Thailand’s Ambassador to Nigeria, Mr. Thirapath Mongkolnavin.

Source: msme Africa online