KUWAIT: The Nigerian government has reaffirmed its strong position on the need to promote Afro-Arab initiatives. This was the aim of the just concluded two-day 3rd Africa-Arab Summit where Arab and African leaders and Foreign Affairs Ministers gathered for a two-day summit to boost economic ties between Arab states and investment-thirsty Africa. In an exclusive interview with Kuwait Times newspaper, the Vice President of Nigeria Mohammed Namadi Sambo outlined some the important decisions reached during the summit.
"Africans and Arabs have a lot in common. We have a long history and share common heritage. Our aim is to promote brotherly ties, revive our trade routes and promote investments. The leaders discussed a proposal by the Africa-Arab Economic Forum to create an Arab-African common market for a combined population of around 1.2 billion people," the Nigerian leader said, adding that the summit focused on how to accelerate investment flows into Africa, which has huge potentials but is facing an acute investment gap.
On Tuesday, Kuwait's Amir His Highness Sheikh Sabah Al-Ahmad Al-Sabah opened the third Africa-Arab summit with a pledge to provide $1 billion in low-interest loans to African countries over a five-year period. On this, the Nigerian Vice President thanked the Amir for his support and generosity. He called on investors to explore the vast investment opportunities in Nigeria.
On Palestinian issue, the Nigerian leader said that African and Arab leaders have reiterated their strong position on the need to put an end to the Israeli occupation of Palestinian and Arab territories and to establish a Palestinian state with East Jerusalem as its capital. He urged the leaders to shun what he called 'decolonization and apartheid'.
About 34 heads of state, seven vice presidents and three heads of government attended the summit, which brings together 71 countries and other financial institutions. The meeting is the first of its kind since 2010, when African and their Arab counterparts met in Libya. The leaders approved measures and resolutions adopted by foreign ministers aimed at fostering economic cooperation between the two regions. They called for institutionalization of meetings to strengthen inter-secretariat consultations. They agreed to hold the Fourth Africa-Arab Summit in Africa in 2016 - in line with the principle of rotation in hosting the summits.
Promoting foreign investments, the Nigerian Foreign Affairs Ministers Prof. Viola Onwuliri, called on Kuwaiti and foreign investors to tap into the Nigerian market. "We are continuously turning Nigeria into an investor's haven. Our commitment to strengthening and deepening relations with our traditional friends, while building and cultivating new partnership and alliances around issues vital to Nigeria's national interests is our greatest assets," she stressed.
"Nigeria is by far the most populous country in Africa with over 160 million people. Apart from being investor's haven in Africa and indeed the biggest economy in the West Africa sub-region, Nigeria has a fast growing and vibrant economy and physical development. The government has provided many investment opportunities in many sectors of business including manufacturing, mining, oil and gas, agriculture, transportation etc" she pointed out.
© Kuwait Times 2013
