Signed MoU being exchanged between the National Automotive Council (NAC) of Nigeria and Automotive Component Manufacturers Association of India (ACMA)
Automotive Component Manufacturers Association of India, signed a memorandum of understanding (MoU) with National Automotive Council of Nigeria (NAC) which will facilitate free flow of information between the two countries and also help in tapping the opportunities arising on both sides. The MoU will come into force with immediate effect.
According to ACMA, the MoU seeks to foster a spirit of strong co-operation and coordination between the two countries and in particular the respective members of the two associations for improved technical and business relations and rendering better services to their respective constituents.
Both NAC and ACMA will look to share market intelligence between each other to which could cover technology, mutual interests, laws and regulations pertaining to foreign trade and investments. The agreement will also address and encourage the avoidance and prompt settlement of trade disputes between the members as per applicable international standards and conventions.
This will also cover assistance around participating in exhibitions, trade and technological fairs, seminars, symposia, conferences and other similar events taking place in the respective countries which overall, aim to expand technical and trade ties between the members.
The two bodies will also meet as and when necessary to exchange views for strengthening ties between the communities and arrange visits of members of both associations from time to time within the framework of rules and regulations of the two countries.
