ACCI, EABC sign MoU to promote intra-African trade

By Cynthia Ezekwe

The Abuja Chamber of Commerce and Industry (ACCI) has signed a Memorandum of Understanding (MoU) with the East  African Business Council (EABC) to promote  intra-African trade cooperation, which is expected to further boost the African  economy.

The  MoU outlines the scope and approaches  that can be maximized between the collaborating parties to harness opportunities that will strengthen  intra-African trade.

This was made known by Al-Mujtaba Abubakar, the President of ACCI, while speaking recently at the signing of the MoU, where he explained that the  MoU will  boost commercial information exchange, customer due diligence information and offers a platform for alternative dispute resolution on trade matters.

The president also observed the need to maximize opportunities created by  the Africa Continental Free Trade Area (AfCFTA) to grow commerce, industry and import/export.

According to him,statistics showed that Intra African trade is less than 20 per cent, but the Africa Continental Free Trade Area (AfCFTA) instrument offers greater advantage for Africa. He also pointed out that both parties stand to gain other relevant benefits by maximizing the opportunities created by AfCFTA.

“The partnership between ACCI and EABC would leverage on the expertise and networking reach of both parties to carry out activities that will promote Intra-African Trade amongst members,’’ Abubakar added.

Also speaking at the signing of the MoU, John Bosco Kalisa, the chief executive officer, EABC,  stated that the council looks forward to great opportunities as it  partners with ACCI. He added that AfCFTA will be at the center of the partnership, as it will boost the African Economy in a great way.

On her part, Victoria Akai, director general, ACCI, explained the structure of the chamber, stating that  ACCI operates through four Centres, including; The Dispute Resolution Centre (DRC), Policy Advocacy Centre (PAC), Abuja Trade Centre (ATC) and the Business Entrepreneurship Skills and Technology Centre (BEST).

She further explained that the four centres alongside the secretariat are the vehicles through which ACCI implements its activities.