ABUJA – The World Free Zones Organisation (WFZO) said it signed a Memorandum of Understanding (MoU) with the United Nations Industrial Development Organisation (UNIDO) for the promotion of global inclusive and sustainable industrial development.
This was made known by WFZO’s Director for Africa, Mr Chris Ndibe at a news conference in Abuja on Thursday.
Ndibe said that the MoU, which was signed between both organisations on May 19 in Dubai, United Arab Emirates, was targeted at enhancing global investment and expansion of trade.
He explained that under the MoU, members of both bodies would exchange successful development initiatives.
According to him, the MoU is also meant to educate developing economies about the uses and advantages of free zones through knowledge transfer as well as utilising UNIDO’s expertise where appropriate.
He said the WFZO and UNIDO would collaborate to provide technical support, guidance, education and training to developing countries, countries with economies in transition, free zone authorities, operators and users.
Ndibe, who is also the Executive Secretary, Africa Free Zones Association, added that the organisations would build strong, robust and diverse economies for the future as well as educating the public on the benefits of free zones scheme.
According to him, we will work to promote domestic investment for leveraging Foreign Direct Investment (FDI) into member countries. (NAN)
