Business
Minister Inaugurates 7th ECOWAS Trade Fair Committee
The Minister of State for Trade and Investment, Mr Samuel Ortom, has inaugurated the Nigeria chapter of the National Organising Committee for the 7th ECOWAS Trade Fair.
The Tide source reports that the event is slated for Accra, Ghanaian capital, between October 24 November 4
Director Trade, Ministry of Trade and Investment Mr Been Iyeh will serve as chairman of the committee, while Mr Sabo Bello, Director of Market Development at the Nigerian Export Promotion Council (NEPC) is the alternative chairman.
Inaugurating the 29-member committee, Ortom said that its main function was to plan Nigeria’s effective participations in the fair.
To this end, he urged the members to “develop strategies on how to improve on Nigeria’s share of regional trade and attract substantial direct foreign investment into the nation’s economy.
This, according to him, is stimulate economic growth and achieve the transformation agenda of the present administration.
Ortom said government was determined to take advantage of the trade fair to attract more direct foreign investments to the country.
Nigeria, in the last three years, has witnessed strong economic growth which has positively impacted on poverty reduction and unemployment levels in the country. Government is determined to maintain this tempo.
A central focus of government, therefore, is to ensure an employment generating growth process capable of addressing the issue of development and poverty reduction,” he said.
The minister, however, said that Nigeria’s share of global and regional trade was still low both for exports and imports.
He said that economic activities in Nigeria had not gathered enough momentum to improve trade performance in the regional market, in spite of the country’s enormous human and material resources.
Fortunately, the region now has a solid market within which to develop intra-regional trade investment. The region has population of about 300 million people. This is an opportunity to be explored by our business in order to further spur growth and provide jobs for our population. “I, therefore, urge you to focus on issue that would spur trade and investment during the trade fair. “the ECOWAS Trade Fair remains a tool for showcasing the regional industrial, manufactured goods, services and attracting foreign direct investment. The fair is a multi-sectoral event that attracts a wide range of products such as industrial and agro –allied products.
It is my firm belief that Nigeria, as a strategic and important economic player within the sub-region, should positively use the platform availed by the fair for economic growth and development,” he said.