Nigerian Minister Dele Alake has addressed the illegal gold trade to the UAE, emphasizing the need for stronger trade relations in the solid minerals sector. Both nations aim to establish a regulatory framework to combat illegal activities, with plans for increased collaboration and an upcoming Nigeria-UAE economic forum.
The Minister of Solid Minerals Development, Dele Alake, has raised concerns regarding the illegal export of gold from Nigeria to the United Arab Emirates. During a meeting with the UAE Ambassador to Nigeria, Ambassador Salem Al Shamsi, Alake highlighted that the extensive illegal gold trade detracts from potential economic partnerships between the two countries. He advocated for strengthened trade relations in the solid minerals sector, pointing out the substantial opportunities for collaboration and the need for a regulatory framework to curb illegal activities in gold trading. Alake stated, “In the mining sector, we see significant opportunities for collaboration. While there is considerable trade in gold, much of it remains illegal, with a large portion of Nigerian gold ending up in the UAE unlawfully.” He further expressed interest in technological partnerships to enhance Nigeria’s mining capabilities. Ambassador Al Shamsi reaffirmed the UAE’s commitment to fortifying bilateral relations, noting recent improvements in visa regulations and collaborative ventures through the Solid Minerals Development Fund. He announced an upcoming Nigeria-UAE economic forum, intended to attract significant foreign investments. To tackle illegal mineral trade and foster legitimate commerce, both nations agreed to establish a technical committee dedicated to exploring collaborative strategies.
The issue of illegal gold smuggling from Nigeria to the UAE is a significant concern for both nations, as it undermines potential economic benefits from legitimate trade. Nigeria is rich in solid minerals that hold global interest, and the UAE serves as a crucial mineral trading hub. The relationship between Nigeria and the UAE spans over fifty years, featuring opportunities for enhanced collaboration within the mining sector. By establishing a coherent regulatory framework, both countries stand to benefit from a formalized gold trade that eliminates illegal activities.
In summary, the dialogue between Nigeria’s Minister of Solid Minerals Development and the UAE Ambassador illustrates the pressing need to address the illegal gold trade impacting both nations. A call for stronger trade relations, supported by technological exchanges and the establishment of a technical committee, signifies a forward-looking approach to enhancing the mining sector while ensuring the legitimacy of commerce.
Original Source: punchng.com
