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.
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.
