• Tuesday, March 19, 2024
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EPA will support local manufacturing sector—Amato

manufacturing-sector

Filippo Amato, trade counsellor and head of Trade Economic Section of the European Union Delegation to Nigeria and ECOWAS, says the Economic Partnership Agreement (EPA) will support Nigeria’s manufacturing sector.

Speaking at a roundtable discussion of the Manufacturers Association of Nigeria (MAN) held in Kano State recently, Amato said it would boost trade and attract investments to Nigeria, contributing to economic growth and job creation.

The EPA is a trade agreement which promises to open the West African market to the EU and vice versa. MAN opposes the agreement as one with unequal partners. But Amato thinks otherwise.

“The EPA would need a focused session to be explained in detail, and I hope we will soon have an occasion to organise a focused dialogue with MAN in this respect,” he said.

He said the EU has been working on the implementation of European Investment Plan (EIP), adding that the European Investment Bank (EIB) has also made significant investments in the country.

“Since 2010, the EIB has disbursed €296 million under seven facilities signed with nine Nigerian banks, of which €210 million was disbursed to 50 sub-projects for on-lending in foreign currency, averaging €4.5 million per project. The sectors covered include wholesale & retail trade, education, manufacturing, construction, transportation, accommodation, human health, information & communication, electricity & gas, agriculture, scientific & technical activities,” he added.

Odinaka Anudu