Nigeria and Singapore have sealed deals on opening up air links between both countries.
They have also agreed to collaborate in areas such as medical tourism, capacity development, skills acquisition and enterprise development, among others.
The agreements were reached at a meeting between the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, and his Singaporean counterpart, Mr. S Iswaran, during the Nigeria-Singapore Business and Investment Forum in Singapore.
Aganga said direct air services between Nigeria and Singapore would boost business, provide favourable trade and investment relationship for both countries.
Iswaran said: “Once we open up the links, the people will follow and businesses too. Nigeria is a large country in its region and there are a lot of opportunities. Singapore is also an important gateway in this region. If we explore these advantages, the two countries will be better for it.”
The Ethiopian Airlines would start direct flights from Nigeria to Singapore in December, this year, it was learnt.
The Nigerian Investment Promotion Commission has signed a Memorandum of Understanding with the Enterprise International Singapore Board in five areas, namely, collaboration in the growth sectors of the economy, sharing information and best practice, mutual support in business missions and capacity development facilitation.
Iswaran, however, noted that the Double Taxation Agreement talks had reached an advanced stage, adding that provision of investment guarantee would create more comfort for businesses.
Aganga, who said an agreement had been signed to develop a mini-Singapore in Abuja, urged Singapore to take advantage of opportunities in the Free Trade Zones, for investment.
Earlier, the Managing Director of the Nigerian Export Processing Zones Authority, Mr Gbenga Kuye, said the scheme was being reformed.