• Tuesday, November 28, 2023
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WTO, NACCIMA partner to boost trade, private sector growth

WTO, NACCIMA partner to boost trade, private sector growth

The World Trade Organization (WTO) and the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) are collaborating to establish a partnership to facilitate trade expansion and promote the growth of the private sector in Nigeria.

Ngozi Okonjo-Iweala, director-general of the WTO, and Dele Oye, president of NACCIMA, are currently representing Nigeria at the World Chambers Congress in Geneva, Switzerland, according to a statement.

The proposed partnership entails the development of a comprehensive Memorandum of Understanding (MOU) between WTO and NACCIMA.

The MOU will encompass a wide range of initiatives, including trade promotion, facilitating global market access for Nigerian businesses, and enhancing export capabilities to drive economic growth and diversification in alignment with the vision of the President Bola Ahmed Tinubu-led federal government.

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Oye said: “We will be leveraging our respective strengths and resources to unlock new avenues of trade facilitation, expand market access, and enhance Nigeria’s position as a prominent player in the global marketplace.”

Highlighting NACCIMA’s commitment to promoting business excellence and its in-depth understanding of local market dynamics, Oye expressed confidence in the partnership’s potential to shape trade policies, foster dialogue, and create opportunities for Nigerian enterprises to thrive.

“We are confident of the possibilities and opportunities that this partnership holds and are assured that the combined efforts of NACCIMA and WTO will yield tangible and transformative results for the Nigerian economy,” Oye said.