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Nigeria, Singapore seal air link, medical tourism deal

By BusinessNews Staff on November 6, 2013

Nigeria and Singapore have agreed to open up direct air links between both countries and leverage on each other’s competitive and comparative advantage, for a mutually beneficial trade and investment relationship.

The agreement covers medical tourism, capacity development, skills acquisition and enterprise development, among others, while both countries have also agreed to put machinery in motion for investment guarantee and a fair taxation regime.

The agreement was reached at a meeting between the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, and the Singaporean Minister for Trade and Industry, Mr. S. Iswaran, on the sidelines of the Nigeria-Singapore Business and Investment Forum in Singapore.

Aganga said direct air services between both nations would provide a good foundation for unrestricted business movement and growth, in addition to a mutually favourable trade and investment relationship, a statement by the Special Assistant to the Minister on Corporate Communications, Mrs. Yemi Kolapo said on Monday.

“Once we open up the links, the people will follow and businesses too. Nigeria is a large country in its region and there are a lot of opportunities. Singapore is also an important gateway in this region. If we explore these advantages, the two countries will be better for it,” Iswaran said.

Already, he said arrangements had been concluded to have direct flights to Singapore from Nigeria, noting that Ethiopian Airlines would commence direct flights from Nigeria to his country this December.

At the forum, the Nigerian Investment Promotion Commission signed a Memorandum of Understanding with the Enterprise International Singapore Board in key areas of collaboration in the growth sectors of the economy; sharing information and best practices; mutual support in business missions and capacity development facilitation.

[Punch]

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