NACCIMA, Austrian chamber sign MoU on business relations

In a bid to encourage business relations between Nigeria and Austria, the Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture and the Austrian Federal Economic Chamber have signed a Memorandum of Understanding that is expected to yield joint venture partnerships for the public and private sectors in both countries.

At a business forum in Lagos on Tuesday, the representatives of both countries expressed hope that the MoU would consolidate business deals that would be beneficial to both nations.

The President, AFEC, Mr. Christophe Leitl, said both countries could be partners in a globalised process.

According to him, while investment may not be the first step in the relationship, there will be long term partnerships among small and medium businesses, with a special focus on infrastructural development.

The President, NACCIMA, Alhaji Mohammed Abubakar, said trade relations between Nigeria and Austria had continued to improve with formal diplomatic relations dating back to 1909, while Nigeria was Austria’s second largest two-way trading partner in sub-Sahara Africa.

Abubakar, who was represented by the 2nd Deputy President, NACCIMA, Mrs. Alaba Lawson, said the current global economic strategy adopted by the BRIC countries, Europe and the United States on trade underscored the value to promote economic diversification, trade facilitation and international trade cooperation in support of economic growth and poverty alleviation.

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