NEXIM, BDEAC Sign Trade, Investment Pact
BY COBHAM NSA, ABUJA – The Nigerian Export-Import (NEXIM) Bank and the Development Bank of the Central African States (BDEAC) have signed a Memorandum of Understanding (MoU) aimed at boosting regional trade and investments between the two organisations.
Expected to leverage on opportunities in areas of technical assistance, capacity building and information exchange, the partnership will also promote transactional relationships that include lines of credit; guarantees; and co-funding arrangements.
Managing Director of the Nigerian Export-Import Bank (NEXIM) Mr Abba Bello said the pact was part of current efforts at deepening existing relationship with BDEAC, noting that inherent benefits of such collaboration to regional development and growth cannot be overemphasised.
Speaking when he received a BDEAC delegation led by its President, Mr Fortunato Ofa Mbo Nchama in Abuja, the NEXIM boss said exploring areas of collaboration between both organisations would not only engender regional commerce, but also create employment opportunities within the two regions
He assured that NEXIM Bank is committed to articulating a workable programme of action towards achieving the MoU’s set objectives.
Also speaking at the occasion, the BDEAC President, Mr Fortunato Nchama said the partnership with NEXIM will foster a mutually beneficial relationship by strengthening economic and trade cooperation with Nigeria.
He said such positive development is germane towards achieving one of the core objectives of the Economic and Monetary Union of Central Africa (CEMAC) in the overall interest of the African continent.
To formalise the relationship between both sides, NEXIM was represented by its Managing Director and Chief Executive, Mr Abba Bello, while BDEAC President, Fortunato Ofa Mbo Nchama signed as his organisation’s representative.
