Nigeria’s Minister of Industry, Trade, and Investment, Dr. Doris Uzoka Anite, has affirmed the commitment of Nigeria and the United States to enhancing their trade and economic collaboration. The discussions focused on several key areas, including the Trade and Investment Framework Agreement (TIFA), the African Growth and Opportunity Act (AGOA), the Bi-National Commission (BNC), and the Commercial Investment Dialogue (CID).
During a meeting with a United States delegation led by Arun Venkataraman, the U.S. Assistant Secretary of Commerce for Global Markets, in Abuja, both parties emphasized the importance of diversifying Nigeria’s exports, promoting innovation, and creating a business-friendly environment.
Dr. Uzoka Anite highlighted the robust relationship between the two nations, built on mutual respect, shared values, and a commitment to open trade and economic collaboration. She noted Nigeria’s vast economic potential, which includes a large market and abundant natural resources. She also mentioned initiatives like the National Talent Export Program, which aims to position Nigeria as a hub for talent outsourcing.
“We are committed to deepening our partnership in trade and investment,” the minister stated. “This includes promoting non-oil exports to the USA under the Africa Growth and Opportunity Act (AGOA) and fostering an environment where businesses can flourish.”
Mr. Venkataraman expressed the U.S. government’s dedication to supporting Nigeria’s economic reforms and addressing challenges faced by American companies operating in Nigeria. He emphasized the U.S.’s commitment to deepening business ties and building a strategic commercial partnership, which underscores a mutual interest in enhancing economic growth and creating opportunities for people in both countries.
He stated, “We know that the United States and Nigeria recognize 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.”
The meeting concluded with both parties agreeing on the importance of regular dialogue and collaboration to address trade disparities, foster investment, and promote innovation, thereby renewing their commitment to strengthening trade and investment relations between Nigeria and the United States.