Nigerian and Canadian government have agreed to cooperate to revive their stalled bilateral agreement.
The moribund agreement is “A Foreign Investment Promotion and Protection Agreement (FIPPA)’’ signed by Nigeria and Canada in May 2014, and ratified by Canada in 2014.
The two parties made the move in Abuja, during a visit by the Canadian High Commission, Mr. Philip Baker to the Minister of Industry, Trade and Investment, Okechukwu Enalema.
Enalemah said: “We will collaborate with you, we will work with you, we believe that your African experience will be useful during your work in Nigeria.
“I know relationship between the two countries must count. I am confident of the ability of Nigeria and Canada to harness their mutual interests and synergies effectively.’’
Explaining Nigeria’s position, Yewande Sadiku, Executive Secretary of Nigeria Investment Promotion Council (NIPC) said: “The deep-dive analysis conducted to determine the priority countries was based on five broad criteria related to Nigeria’s trade relations, global and sectoral investment flows, and Nigeria’s strategic relationships.
“Twenty countries were identified as being of strategic importance for investment promotion. NIPC is now working on building strategic relationships with the top 3-5 countries.”