In order to attract sustainable investments, increase productive capacity, create employment, and alleviate poverty, the Nigerian government is intensifying reforms within its institutional and regulatory frameworks to improve the business environment.
The Nigerian Minister of Industry Trade and Investment Doris Uzoka-Anite revealed this during the thirteenth World Trade Organisation (WTO) Ministerial Conference (MC 13), holding in Abu Dhabi, United Arab Emirates.
She explained that these reforms are key, if Nigeria is to reap economies of scale or other market efficiencies under the African Continental Free Trade Area (AfCFTA), as well as from our participation within the Multilateral Trading System.
Speaking at the Ministerial Event on the Investment Facilitation for Development (IFD) Agreement she said, “I believe that the IFD Agreement would complement Nigeria’s ongoing reforms and initiatives towards unlocking opportunities within our economy, especially with regards to efforts towards making Nigeria a progressively easier place to start and grow businesses.”
“We are confident that this Agreement that seeks to foster closer international cooperation and create a more transparent, efficient, and predictable investment environment will lead to an improved flow of cross-border investment for development.” The minister stated
“I believe it is only by scaling up investments in our economies that we can participate and benefit from, today’s integrated and digital global economy.”
Uzoka-Anite however, called on all WTO Members to support the adoption of the IFD Agreement as a WTO annex 4 Agreement in this Ministerial Conference.
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