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Gambia and Senegal Sign Multiple MOUs to Boost Industrial Trade

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Ousainou Senghore CEO GIEPA and Abdoulaye Balde Director General APIX Dakar

By Landing Ceesay

His Excellency Mohammed B.S Jallow, the Vice President of The Gambia, presided over a ceremony in Dakar, Senegal, where two industrial trade Memorandums of Understanding (MOUs) were signed.

The Gambia Investment and Export Promotion Agency (GiEPA) and the National Agency for the Promotion of Investments and Major Works (APIX-S.A) in Dakar, inked a Memorandum of Understanding (MoU).

Additionally, The Gambia Transport Service Company Limited (GTSC) and Dakar Dem Dikk L’officiel also signed a Memorandum of Understanding (MOU) with the shared aim of fortifying collaborative trade and industrial partnerships between The Gambia and Senegal.

In response to these signings, Vice President Jallow underscored the significance of translating these agreements into tangible actions to realize the desired expansion of trade and investment between the two countries.

VP Jallow emphasized that the consistent and persistent implementation of the various MOUs by the respective institutions is crucial, as it would contribute to enhancing and diversifying export performance and improving transportation infrastructure across land, air, and sea routes in the Sene-Gambian region through joint investments and infrastructure projects.

“The potential that our two countries have in trade and industrial development will be better harnessed when we come together to discuss, share ideas and experiences, as well streamline and simplify our cross-border transactions and improve the business environment for the private sector. To fully unlock this potential, we must not just facilitate trade but strive to turn the Senegambia region into an industrial manufacturing zone to drive growth and job creation for our youthful population,” VP Jallow told the gathering.

The MOUs were officially signed during the opening session of the inaugural Gambia-Senegal Economic, Trade, and Investment Forum on Thursday, October 26, 2023, in Dakar, Senegal.

Gambia’s Vice President emphasized the importance of these agreements, highlighting how they mark a crucial advancement towards achieving mutual economic objectives, fostering collaboration, and enhancing the partnership between these neighboring nations. These agreements symbolize a dedicated effort to create a brighter future for trade and economic growth in the Sene-Gambia region.

“The MoUs signed at this event represent a significant step toward the realization of shared economic goals, fostering cooperation and synergy between the sister nations. It signifies a commitment to a brighter future of trade and economic development in the Sene-Gambian region,” the Gambian VP said.

The Vice President also conveyed his enthusiasm for the potential establishment of collaborative economic zones in strategic locations and joint investment initiatives aimed at attracting much-needed Foreign Direct Investment (FDI) while bolstering trade infrastructure along crucial trade and transit routes.

VP Jallow expressed his gratitude to the Government and people of Senegal for their warm hospitality during his visit to Dakar, highlighting the historical significance of the occasion.

The Gambian VP extended his thanks to the event organizers, including The Gambia Investment and Export Promotion Agency (GiEPA) and the National Agency for the Promotion of Investments and Major Works (APIX-S.A) in Dakar, for their dedicated efforts in promoting cultural celebrations and fostering economic ties between the two nations.

Vice President Jallow acknowledged the pressing challenges faced by both countries, including the adverse effects of climate change, mounting debt levels, and escalating geopolitical tensions.

He emphasized the threat these challenges pose to peace and stability, as well as the despair they sometimes generate among the population.

VP Jallow reaffirmed his steadfast support for enhanced cooperation and collaboration between the two nations under the guidance of the President of The Gambia.

VP Jallow expressed his conviction that the discussions at the event would lay the foundation for addressing challenges and advancing joint trade and industrial cooperation, ultimately leading to prosperity for both countries.

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