Nigerian President wants world backing for proposed African single market
President Buhari with world leaders at the 9th D-8 Summit held at the International Convention and Summit Centre Istanbul, Turkey… yesterday. Pic The Guardian Nigeria
London, Oct. 21, 2017 (AltAfrika)-Nigerian President, Muhammadu Buhari has appeal to D-8 member countries to give unflinching support to efforts of the African Union (AU) to establish the first ever-single market for trade in goods and services on the continent.
Speaking at the ninth summit of the D-8, President Buhari described the AU-backed Continental Free Trade Area for Africa as a “win-win for all, including member countries of the D-8.’’‘‘I am pleased to inform you of positive market developments currently in Africa, that will support our efforts as Members of the D-8 to enlarge our markets, facilitate our trade and investments, and develop our economies.”
‘‘In Africa, we are on the threshold of finalizing negotiations to establish the first ever Single Market for Trade in Goods and Services on our Continent, in the Continental Free Trade Area for Africa. This will be a win-win for all, including member countries of the D-8.
‘‘As partners, I urge that we work together to support this effort of the African Union that will have a positive effect on global economic development and integration,’’ he said.
Highlighting the business and investment opportunities in Nigeria, Buhari stressed the need for prospective investors to take advantage of Federal Government’s new policies on trade facilitation.
‘‘Nigeria is committed to and is actively pursuing a policy of trade and investment facilitation for growth. The gains from trade are reflected in greater competitiveness, improved productivity, job creation, consumer welfare and prosperity.
‘‘Economies that grow fastest and at more sustainable rates are those that actively promote trade and attract investment. We are committed to creating an enabling environment and making Nigeria an attractive place for business and investment,’’ he said.