Exporters of locally manufactured goods and agricultural produce in the South East have been advised not to cut corners but to do proper documentation of their products to attract appropriate payments in return.
They were reminded of the guided trade initiatives enunciated by the ratification of the African Continental Free Trade Area (AfCFTA) by 53 of the 54 member countries in the African Union (AU), to enable cross border trade without hitch aimed at boosting production and buying and selling of essential goods and services within the continent.
The charge was contained in a paper on “AfCFTA Market Opportunities: Prospects and Challenges,” presented by the Head, Development Finance, Central Bank of Nigeria (CBN), Umuahia, Mr Kelechi Adiele, during a one-day sensitization seminar organised by the Aba zonal office of Nigerian Shippers Council (NSC), South East zone.
Adiele, represented by Mr. Ekene Oforah, said many African nations were interested in making business and trade inroads into Nigeria’s large markets, noting that the seminar topics were meant to expose exporters and others interested in showcasing their products to the outside world, on requirements and rudiments of benefitting from government’s incentive in ratifying the trade agreements.
Abia State Commissioner for Trade, Dr. Chikezie Ukaegbu, represented by the permanent secretary in the ministry, Mrs Magdalene Onwu, while declaring the event open, said the seminar was apt, as it will provide opportunities for sensitising the people on the positive effects of embarking on non-oil businesses.
Immediate past president of Aba Chamber of Commerce, Industry, Mines and Agriculture (ACCIMA), Chief Jerry Kalu, who chaired the occasion, lauded the federal government for joining to create an integrated free market for trade in goods and services in the continent, whose combined gross domestic production has been estimated at $3.4 trillion, and linking 1.3 billion citizens living in different parts of the continent.
He said the people will benefit immensely from the trade agreement if it became localized, stressing that what was required was to rebuild the nation’s capital infrastructures to provide access to locations where solid minerals like gold, granite, zinc, as well as agricultural produce including tomato paste, leather products, rice, among others, were being produced.