Nigeria and the United States have reaffirmed their commitment to improving trade and investment ties.
This reaffirmation followed a high-level meeting between Nigeria’s minister of industry, trade, and investment, Doris Uzoka-Anite, and a US delegation led by the assistant secretary of commerce for global markets, Arun Venkataraman, in Abuja last week.
The meeting focused on enhancing bilateral trade relations and discussions on the Trade and Investment Framework Agreement (TIFA), the Africa Growth and Opportunity Act (AGOA), the Bi-National Commission (BNC), and the Commercial Investment Dialogue (CID).
Both parties stressed the importance of championing innovation, diversifying Nigeria’s exports, and establishing business-friendly conditions.
Ms Uzoka-Anite highlighted Nigeria’s economic potential and recent initiatives.
She said, “Nigeria’s vast economic potential includes a large market and abundant natural resources. Initiatives like the National Talent Export Program position Nigeria as an export hub for talent outsourcing.”
She also emphasised how crucial the US-Nigeria alliance is, following both countries’ long and strong relationship based on respect for one another, shared values, and a dedication to free trade and economic cooperation.
In her address, Venkataraman shared the difficulties faced by most Americans doing business in Nigeria and the US government’s support for Nigeria’s economic reforms.
He said, “Our work to deepen business ties and build a strategic commercial partnership underscores our commitment to further enhancing these ties, fostering economic growth, and creating opportunities that benefit people across both our great nations.”
The US delegation showed keen interest in Nigeria’s economic reforms and expressed readiness to support initiatives that promote trade and investment.
Venkataraman added, “We recognise the immense potential of our economic cooperation, but now it is time to take that potential and make it a reality. We are not here to talk; we are here to take action.”
