The President, Major General Muhammadu Buhari (Retd), has called on African countries to expand their participation in international trade in order to grow African export trade beyond the current 3 per cent.
The president said this on Monday in Lagos at the 9th United African Shippers’ Council meeting theme ‘African Continental Free Trade Agreement: A veritable platform for African shippers to mainstream into global trade’ hosted by the Nigerian Shippers Council.
He, however, said that African governments must develop appropriate supporting policies, build the requisite infrastructure and ensure an educated workforce for AfCFTA to have a positive influence on long-term investment in productive capacities. Buhari asserted that AFCFTA would be a game changer in Nigeria because it will stimulate intra-African trade and expands the country’s exports to its African partners.“Nigeria’s exports to the rest of Africa would increase by more than 15 per cent in fishery, textile, wearing apparel, leather, wood and papers, metals, electronics, vehicles and transport equipment and machinery for industrial sectors.
According to him, there was a need to put adequate measures in place to reduce tariff and non-tariff barriers that hamper trading between countries in the continent.
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