AfCFTA: 14 African countries get masterclass on trade, investment facilitation



News Today 2

No fewer than 25 Trade and Economic Officers from 14 African countries have received a masterclass to boost their capacities in trade and investment facilitation.

Nazaru LLC, a United States-based services company, delivered the free online training ahead of the planned takeoff of the African Continental Free Trade Area (AfCFTA)in January 2021.

An African Union Policy Officer was among the participants from Uganda, Egypt, Lesotho, Mauritania, Kenya, Libya, Madagascar, Togo, Mauritius, African Union, Namibia, Somalia, Mozambique, Algeria and Eswatini.

The recipients were drawn from institutions and organisations charged with facilitating adoption and implementation of the AfCFTA.

Topics covered included Market Access Development Strategies, Supply Chain Development and Sector Specific Export Strategy Development, Trade Monitoring and Trade Information, and Sector Specific Investment Promotion Framework.

The masterclass, according to the resource person and Chief Executive Officer of Nazaru, Ms Toyin Umesiri, is aimed at enhancing the participants’ capacities to effectively drive the AfCFTA.

Speaking at an AfCFTA roundtable she hosted days earlier, Umesiri, a Nigerian, said that there was a skill gap among stakeholders as regards the strategic vision of the trade pact.

“A lot has been said about the AfCFTA, including its benefits and technicalities but one thing I have observed is a skill gap on how to personalise the agreement.

“For everybody listening to me, the big question is now what does the agreement mean to you? What does that mean to your role and responsibility as a stakeholder?

“For several years now, we have been bringing global stakeholders together and we are finding that that is not enough.

“What we are seeing is that there is a skills gap of taking the strategic vision and implementing it.

“That skill is what we need to maximise the AfCFTA for the industrialisation and development of Africa of the future,’’ she said.

She noted that the trade pact would end as a pipe dream without the required human capital to effectively manage investment in the initiative.

Umesiri, who drives increased United States commercial interest in Africa, cited the “somewhat failed’’ African Growth and Opportunity Act (AGOA).

AGOA is a preferential trade policy enacted by the United States government since 2000 to open the country’s market to eligible Sub-Saharan African countries.

However, many African countries have not been able to take advantage of the opportunity due largely to their inability to navigate the non-tariff barriers, according to experts.

Umesiri said: “We all know that eliminating tariff is one step, we also have non-tariff barriers, which is where the real work lies.

“Coming together, partnering, improving our skills and collaborating are part of the things that will move us forward.

“Along that line, we at Nazaru have made a commitment over the next one year to train our policy makers and business executives in terms of trade and investment facilitation.

“We are now armed with information, we are armed with resources to know that the AfCTA is a game changer for the continent of Africa.

“My challenge to everybody listening is what are you going to do? What role are you going to play in advancing the continent of Africa?,’’ she asked.

Edited By: Vivian Ihechu
Source: NAN

Short Link:

Harrison Arubu

Harrison Arubu: NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. We are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and we strive diligently to ascertain the truth in every news report. Contact: editor @ Disclaimer.

Recent Posts

Bishop urges FG to focus on agriculture to boost economy Dangote Urea Fertiliser delivers 120 trucks daily- official COVID-19: 107,283 persons receive 2nd vaccine dose in Lagos Avoid God’s judgment on Nigeria, Okoye tells leaders Osinbajo applauds ex-minister’s humanitarian initiative for orphans, others Gov. Emmanuel spends N26bn on Eket-Ibeno road Ex-Imo dep. gov. recommends dialogue to resolve grievances Video: NNPC highlights week with 40bn barrels crude oil reserve target Truth, justice, equity, will guarantee Nigeria’s unity – Okowa COVID-19 Vaccine:107,283 persons receive 2nd dose in Lagos Mikel Obi visits Yahaya Bello, harps on youth leadership Police confirm unknown gunmen attack in Zaria Democracy Day: Nigeria can achieve more – Nigerian Diasporas NRC begins Lagos-Ibadan service Tuesday Eriksen unlikely to play football again, cardiologist says Divorce: Expert advises parties to explore mediation Krejcikova wins French Open doubles day after singles triumph Obaseki seeks legislation, global action against child labour NRC begins Lagos-Ibadan service June 15 NDLEA nabs Uber driver, 2 traffickers with cocaine in Lagos APC Diaspora urges speedy convocation of national dialogu Buhari greets Gen. Abubakar at 79 Gov. Obaseki seeks legislation, global action against child labour Bishop Onuoha urges South East agitators to shun violence World Day Against Child Labour: Foundation highlights consequences of neglect Drama on protection of public infrastructure underway How I will reposition National Troupe–Director Nigeria will be great – Al Mustapha Albinism: Foundation stresses need for govt. support LASG says sports can be used to rekindle hope in youths Child abuse: CCTV to the rescue Bauchi Govt unveils N1.5b youths empowerment programme It’s time to end Boko Haram- Al Mustapha tells new COAS June 12: Imo residents sue for peace Earning a living through car wash business Democracy Day: NIREC preaches tolerance, true democratic culture NNL: Attack on Bendel Insurance team barbaric – Obaseki June 12:  Lalong decries use of social media against democracy By Martha Agas FG commences completion of abandoned Farin Ruwa Multipurpose Dam Governors working hard to ensure stability in Nigeria, says Gov. Ganduje Buhari felicitates Minister of State, FCT on birthday, title Expert urges mid-term review of power privatisation Zamfara renders free medical services to 1,160 less privileged Niger governor celebrates Gen. Abdulsalami at 79 Police restate ban on unlawful gatherings in Kano State Senate President visits wounded soldiers in Kaduna Matawalle vows to pay bandits in same coin EFCC FC coach targets to lift FCT Aiteo Cup again Euro 2020: Denmark’s Eriksen stable after collapse on pitch Borno govt. will not sack workers — Gov. Zulum assures