The Federal Government says the approval of the NIgeria-Saudi Arabia Chambers of Commerce, Industry, Mines and Agriculture (NSCCIMA), will increase trade volume between both countries and reduce trust deficit.
The Minister of Information and Culture, Alhaji Lai Mohammed said this on Thursday in Abuja, when the President of the Chamber, Alhaji Ibrahim Usman paid him a courtesy visit.
The News Agency of Nigeria (NAN) reports that Usman presented a copy of the Certificate of Registration of the Chamber to the minister.
Mohammed hailed the registration of the Chambers after 11 years, adding that it would improve the volume of trade between both countries, currently put at about five million dollars.
He said the Chamber will also become a clearing house for businesses and investments, thereby, reducing trust deficit between business men from both countries.
According to the minister, the Chambers is the beginning of a new relationship between Nigeria and Saudi Arabia, though both countries have cordial relations.