The Philippine Economic Zone Authority (PEZA) and the Nigeria Export Processing Zones Authority (NEPZA) recently signed a Memorandum of Understanding (MOU) to promote economic cooperation and investment opportunities in their respective special economic zones.
Under the agreement, PEZA and NEPZA will cooperate in various areas, which includes the sharing of industry, investments, and trade-related information, and undertake joint investment promotion programs, conferences, trade fairs, and meetings.
Likewise, both parties may conduct capacity building and skills development, trade and investment campaigns, and public-private partnerships.
Aside from the signing of the MOU, the Nigerian Embassy in Manila also conducted a two-day Nigeria-Philippines Business Forum to commemorate the more than 60-year diplomatic relations between both countries.
Ambassador of the Federal Republic of Nigeria to the Republic of the Philippines Folakemi Akinleye emphasized that this forum “aims to advance diplomatic, economic, and social collaboration between the Federal Republic of Nigeria and the Republic of the Philippines.”