FG Task North East Region to Key into Trade Agreement between Nigeria, Partners

FG Task North East Region to Key into Trade Agreement between Nigeria, Partners

By Ahmed Ahmed

The Federal Ministry of Industry trade and investment has on Thursday tasked North East region stakeholders to key into a signed trade agreement between Nigeria and her trading partners

Dr Nasir Gwarzo, the Permanent secretary of the Ministry, represented by senior Adviser Administration, Alhaji Dauda Mohammmed said at a workshop in Bauchi

He said the Stakeholders would be availed with the benefits of the signed trade agreement after keying into the agreement.

He said the participants would also be availed with the ample opportunities provided by the trade agreements to promote trade, industry, investment, as well as export.

“The difficulties associated with taking advantage of the signed Trade and Investment Agreements by our private sector stakeholders whom the Agreements were being negotiated.

“This might be owing to non-awareness of the existence of the signed Agreements by the stakeholders,lopsided negotiation and ratification challenges, would now be much clearer through this event.

“It would, therefore avail us with the privilege to identify opportunities and challenges of those signed Trade Agreements”, he said.

Gwarzo stressed that it is imperative to underscore that countries are increasingly focusing attention to the conduct of both domestic and international trade engagements.

He explained that Nigeria entering into Trade Agreements with other countries is primarily to facilitate and develop trade relations on the basis of reciprocity.

Gwarzo also Stressed that the task of transforming Nigeria into an industrial giant can best be achieved in cooperation with the private sector stakeholders.

Earlier, Mr Zakariya Ishaku, the deputy director trade of the Ministry, explained that the workshop underscores the importance the Ministry attaches to the private sector as drivers of the economy and partners in sustainable development.

He explained that Nigeria has signed some Trade Agreements, Investment Promotion and Protection Agreements, Multilateral Agreements, Organisation of Islamic Cooperation Agreement (OIC), African Continental Free Trade Agreement (AfCFTA).

“This is an opportunity for strategic collaboration and engagement between the public and the private sector stakeholders to harness benefits of signing the Trade Agreements.

“There is a need to create synergy for the implementation, and awareness among our business communities who are the end users of the signed Agreements.

Mr Ishaku pointed out that the President Muhammadu Buhari led Administration underscores the role of the private sector as a driver of the economy.


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