TRALAC - Trade Law Centre

Nigeria-America Chamber vows to increase Nigeria’s non-oil export through AGOA

Monday, 11 June 2018 Published: | ODINAKA ANUDU

Source: Business Day (Nigeria)

The Nigerian-American Chamber of Commerce (NACC) says it hopes to expand Nigeria’s non-oil export to the United States through the African Growth and Opportunity Act (AGOA).

The chamber, which stated this during its 57th annual general meeting held last Thursday in Lagos, said it would fully immerse itself in policy implementation, compliance and growth for Nigeria.

Toyin Akomolafe, newly elected president of NACC, said the chamber would now establish itself as the ‘go to’ organisation on all trade related issues for AGOA.

AGOA is a trade agreement which allows African countries to export 6,421 products to the US free of duty till 2025.

According to Akomolafe, as part of the first thrust of re-branding the chamber, his leadership would re-engage with the American official community to rebuild bridges and trust.

“My goal is to foster inclusivity in key decision making. All internal stakeholders need to feel a sense of belonging,” he stated.

“I believe there is an even greater obligation on us, and on me especially, to direct and uphold the core values of the Nigerian-America Chamber of Commerce, which is to advance economic cooperation between Nigeria and the United States through the promotion of business and services that improve trade relations and the prosperity of both nations,” he added.

Meanwhile the chamber will lead a delegation of over 20 Nigerian companies from various sectors on a trade mission to Washington DC.

The chamber says the five-day trade and investment mission will see delegates participate in the African Trade and Global Investment Summit (ATIGS), which will feature over 2,000 participants, 70 countries, 16 sectors, 150 speakers and many global investors.

“The trade mission is an annual commitment of the chamber in promoting the development of trade, commerce, investment and industrial technological relationships between the public  and private sectors of Nigeria and the US targeted at  further driving the socioeconomic development for all. It will hold from 20 to 27 June, 2018,” said Olabintan Famutimi, outgone president of NACC.

He said there will be business-to-business meetings in Washington DC and engagement with the Nigerian Diaspora Community.

Last year, the chamber took Nigerian entrepreneurs to Miami, Florida.

Recounting a success story during his stewardship, Famutimi stated that capacity building became a priority for the chamber, adding that NACC worked with the AGOA CSO Network and the Federal Ministry of Industry, Trade and Investment to champion the development of AGOA Country Utilisation Strategy for Nigeria.

 

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