By Gloria Ikibah
Nigeria and Thailand have signed a Memorandum of Understanding (MoU) on technical cooperation as both countries seek to deepen economic relations, increase bilateral trade and attract more investment.
The agreement was signed on Tuesday at the Ministry of Foreign Affairs in Abuja by Nigeria’s Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, and Thailand’s Deputy Prime Minister and Minister of Foreign Affairs, Mr Sihasak Phuangketkeow. 
Speaking at the signing ceremony, Odumegwu-Ojukwu said the agreement would provide a fresh platform for both countries to work together in skills development, technology transfer and sustainable development.
She welcomed Thailand’s Thailand-Africa Initiative (TAI) and called for closer collaboration between the Nigerian Technical Aid Corps (NTAC) and the Thailand International Cooperation Agency (TICA).
The minister also highlighted the ongoing Thailand-Nigeria Sustainable Agricultural Technology Development Project, proposing that it be expanded to other parts of Nigeria.
She called for greater cooperation in agricultural research, technology and innovation, stressing the need to use the partnership to improve development outcomes.
Odumegwu-Ojukwu said Nigeria was interested in taking its relationship with Thailand beyond its current level and building a strategic partnership anchored on stronger economic cooperation.
She urged both countries to diversify bilateral trade, which has largely centred on commodities and agricultural products.
The minister called for increased Thai investment and joint ventures in agro-processing, manufacturing, energy, ICT, mining, renewable energy and other value-added sectors.
She also drew attention to Nigeria’s large consumer market and the investment opportunities available to Thai businesses, urging them to take advantage of the country’s incentives and growing economic potential.
The minister further proposed the establishment of a Joint or Bi-National Commission to provide a permanent framework for bilateral economic dialogue, monitor the implementation of agreements and speed up the conclusion of pending bilateral instruments.
Among the agreements she identified for attention were the Investment Promotion and Protection Agreement, Trade Agreement, and Agreement on Economic, Scientific, Technical and Cultural Cooperation.
Nigeria also called for closer relations between the Association of Southeast Asian Nations (ASEAN) and the Economic Community of West African States (ECOWAS), saying stronger regional cooperation could open up fresh opportunities for trade, investment and development.
Odumegwu-Ojukwu reaffirmed Nigeria’s commitment to building a stronger economic partnership with Thailand through increased trade and investment, technical cooperation and regular high-level engagements.
On his part, Thailand’s Deputy Prime Minister and Foreign Minister, Sihasak Phuangketkeow, described Nigeria as “a key economy in Africa.”
He said a strategic economic partnership between the two countries would boost investment and trade while delivering benefits to their citizens.
The signing of the MoU comes as Nigeria and Thailand seek to build on their longstanding diplomatic relations by expanding cooperation beyond traditional areas of trade and towards technology, agriculture, manufacturing and other sectors capable of creating jobs and supporting economic growth.
