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Afreximbank, NEPC partners on intra-regional trade session

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Jude Johnson 

The African Export-Import Bank (Afreximbank) and the Nigerian Export Promotion Council (NEPC) will host a business conversation in Abuja on Monday in continuation of the discussion on intra-regional trade in Africa.

The Media Relations Officer, Afreximbank, Mr. Obi Emekwue, in a statement on Friday, said the event will look at the challenges facing trade and discuss how to bridge the information gap on data on intra-African trade.

Emekwue said the session will also address the challenges of the African Continental Free Trade Area, financing and facilitation of intra-African trade lines and challenges of payment and settlement systems.

According to him, the Minister of State for Trade and Investment of Nigeria, Hayjiya Aisha Abubakar, will deliver a keynote address entitled “Exploring the nexus of Nigerian trade to the continent” and touching on the major role Nigeria could play in the African Continental Free Trade Area (AfCFTA).

In March, 44 African countries signed the agreement for the establishment of the AfCFTA, paving the way for greater intra-African trade and increased economic opportunities for African states. Nigeria and South Africa were not among the initial signatories but South Africa has since signed on.

In June, Afreximbank signed a memorandum of understanding with the Export Credit Insurance Corporation of South Africa SOC Limited (ECIC) to launch a $1 billion financing programme to promote and expand trade and investments between South Africa and the rest of Africa.

Speaking during the signing ceremony, Afreximbank President Dr. Benedict Oramah had expressed the hope that a similar agreement could be signed with the Nigerian market, noting that Nigeria was also a major exporter and investor in financial services, manufactured goods and agricultural production.

The discussion will be followed by a networking session between the two organisations and trade partners.

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