Earlier, interest-free loans were announced for Emiratis whose businesses were affected by the rains, with a grace period of 6 to 12 months
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The MoU was signed by Omar Bin Ghaleb, Deputy Director General of the UAE General Civil Aviation Authority (GCAA) and Engineer Hassan Musa, Director of Air Transport Management of the Federal Ministry of Aviation. Princess Stella Oduah, Nigerian Minister of Aviation was also present on behalf of the Nigerian Government. Representatives from Abu Dhabi Department of Transport, Dubai Civil Aviation Authority, Sharjah Department of Civil Aviation, Ras Al Khaimah Department of Civil Aviation, Etihad Airways, Emirates Airline, Air Arabia and RAK Airways attended the negotiations.
Omar Bin Ghaleb stressed the importance of the memorandum, which will further contribute to boost the trade and investment between UAE and Nigeria. Bilateral trade reports indicate that non oil trade exchange stood at $607 million in 2010 which is almost double the figure of 2006.
The UAE designated Emirates Airline, Etihad Airways, Air Arabia and RAK Airways as UAE national airlines under the Memorandum. Nigeria shall notify the UAE of their designated Airlines under the Agreement through Diplomatic channels.
The MoU allows an increase in all-cargo frequency entitlements for the designated carriers of the two countries, which is expected to have a positive impact in the bilateral trade.
UAE now has air services agreements with 146 countries, of which 106 are open skies or fully liberal arrangements.
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