LCCI to Maximize AfCFTA Opportunities to Drive Regional Market

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The Lagos Chamber of Commerce and Industry (LCCI) has declared its readiness to broadly maximize the opportunities of the African Continental Free Trade Agreement (AfCFTA) to boost global and regional markets for start-up brands, large industries, technology hubs and multinational companies to facilitate trade between key markets.

The chamber made the claim during a press conference of the 2022 Lagos International Trade Fair (LITF)

According to LCCI, the 2022 edition of the LITF would attract business interest and focus on market integration for global players to participate in optimal outreach and business promotions while strengthening ties with foreign partners to support. .

African countries are investing in trade.

This, the chamber said, would deepen regional markets, integrate foreign partnerships, boost startups and encourage local and aspiring investors to facilitate trade across the world.

Previously Chairman of the Trade Promotion Board and Deputy Chairman of the Lagos Chamber of Commerce and Industry, Engr. Leye Kupoluyi said that foreign countries, enterprises, government MDAs and private sector operators have increasingly announced their willingness to explore the opportunities of this year’s commercial edition.

He said that the global economic restrictions of the covid-19 pandemic have limited foreign partners to participate in the last two editions due to the growing wave of the global pandemic while ensuring that countries like India, Japan and Ghana have confirmed their interest in participating. Talks, he said, are already at an advanced stage with countries like Ivory Coast, Burkina Faso, Zambia, Indonesia and others.

Furthermore, he affirmed that 54 countries have been invited to this year’s LITF and many of their ambassadors have been visited, and 10 have already confirmed their participation while others are still in the process of processing their participation.

Kupoluyi affirmed that the 2022 edition would focus significantly on the African Continental Free Trade Agreement, adding that discussions were ongoing with AfCFTA Executive Secretary Mr. Wamkele Mene and other stakeholders. to meet exhibitors’ demands and provide more opportunities to improve logistics and atmosphere.

He further affirmed that the LITF would ensure stakeholders deliberate in depth on the need to maximize the potential of the AfCFTA while promising that the fair will be bigger, better and more beneficial to the LITF, investors, partners. foreigners and the global economy.

Kupoluyi congratulated the sponsors and partnerships of the 2022 edition of the LITF, namely United Bank for Africa Plc, Dangote Group, Choice International Group, FEDAN Investment Limited, De United Foods, Bank of Industries and Flour Mills of Nigeria Plc.

Also speaking, the Managing Director of LCCI, Dr. Chinyere Almona, said the companies would meet their sales targets, increase trading volume, eliminate market restrictions and integrate a wider market for more investment.

She said the LITF would support the AfCFTA program to help key African markets engage countries around the world.

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