The federal government has sought the participation of private organisations in the forthcoming 2nd edition of Trade with Africa Business Summit.
The summit scheduled to hold in Chicago, United States of America between 1st and 2nd August was to explore tremendous economic potentials for US-Africa trade thereby creating global market access for Africa businesses.
The permanent secretary Ministry of Industry Trade and Investment, Edet Sunday Akpan, who was representative by the deputy director World Trade Organization (WTO) department of trade, Mr Aliyu Abubakar at the inter ministerial meeting held at the ministry headquarters in Abuja Monday stated the need for private sector to come on board and drive the push for trade aid among these nations.
He said: “We are particularly in the summit and we are hoping that it will aid bilateral trade between Nigeria and US. We have a lot of items (like mining, agro products etc) here in Nigeria that we can trade with the world.“We need more of the private sector…and other stakeholders to attract US in critical areas of our investment opportunities.”
He said that the US serves as an untapped market for authentic African products- raw and manufactured. “There is no doubt this event is an opportunity to showcase Nigeria’s business potential including trade infrastructures put in place to facilitate fast and smooth movement of goods.
He added that it is important to note that Africa being home to 1.1 billion people has 60% of the world’s uncultivated land mass and with manufacturing steadily shifting to Africa, “the timing is right for business leaders to develop effective strategies towards the region.
Out of this land mass Nigeria occupies the largest share including market,” he said.
Focal person Africa for the trade with Africa Business Summit, Hon. Quadri-Adu S. Kehinde said “the two day summit will provide the stage to engage and showcase appropriate technologies, inventions and enormous trade potentials.
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The summit will also address the constraints and barriers that exist in identifying export markets for African product lines. It will encourage the establishment of a long term trade partnerships and business linkages between Africa and the Americas.
“This is more than a business opportunity, it aims to harness and showcase feasible and attractive investment opportunities across the huge US-Africa trade axis.
”He noted that Africa Business and political leaders must actively pursue creating stronger mutually beneficial partnerships with ‘Corporate America’ and Trade with Africa Business Summit is an effective platform to accomplish this.
The inaugural edition was held in Bentonville, Arkansas last year.Ministries, agencies and organizations at the inter ministerial meeting included Standard Organisation of Nigeria (SON), Ministry of Foreign Affairs, Ministry of Trade and Investment, National Information Technology Development Agency (NITDA) and several others.
