Afreximbank director: Why Nigeria should participate in intra-Africa trade fair

Kanayo Awani, Managing Director of the Intra-African Trade Initiative at the African Export-Import Bank (Afreximbank), says Nigeria stands to gain success by participating in a trade fair in Egypt.

Speaking with reporters in Abuja on Monday, Awani said the trade would be an open source of investment in the continent.

She said trade would go smoothly within the continent when buyers and sellers know the rules. trade in the various African countries – an opportunity the fair would create.

"People do not know which market in Africa, where the sources of raw materials. What are the various standards and requirements that are at the heart of the trade fair. This is a way to build information, "the MD said.

" When you bring buyers and sellers, Which are the markets? Who are the buyers in Africa? What are the rules of trade in various countries?

"We did a study with UNTAD which shows that countries like Nigeria and Mauritia imports a lot of products from Italy. Goal Botswana, for instance, exports globally. You will see that there are opportunities and we are Africans. We are exporting as much as we can buy internally.

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'NIGERIA WILL SIGN AfCTA '

On his part, Segun Awolowo, executive director of the Nigerian Export Promotion Council (NEPC), said the country would sign the African free continental trade agreement (AfCTA).

"Nigeria is not skeptical about it. The president has explained that he wants more consultation. Nigeria is a federation of many states, you do not just jump into it. When you go into something like this is a new marriage. He has told you he is going to sign. Nigeria is going to sign it, Nigeria is going to drive it, "he said.

" The challenge that many other countries have that Nigeria will dominate their markets. We do not want any country to come into the world and we are anti-dumping. There is the process of anti-dumping that gaurds against that. "

" It is a big platform to connect to Africa. Most of our export to Africa in informal trade. Nigeria goods to Africa. It is going to be a big advantage to SMEs and MSMEs and to connecting them to our business partners, "Awolowo said.

" We are used to exporting raw materials. "