The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture,
NACCIMA, has applauded the decision by Government to ratify the African Continental Free Trade Area, AFCFTA.
It says the action reflects its commitment to be part of this historic Trade and economic agreement.
In a statement by Ambassador Ayo Olukanni DG NACCIMA, “We urge that the relevant relevant arm of government especially the office of the Attorney General will promptly prepare the necessary ratification papers to ensure prompt deposition at the Secretariat. Notably this ratification now gives us the status of a State Party to the Agreement which also gives us a leverage to be an effective player in the scheme of things. It will also boost our position at the forthcoming Feb 2021 Meeting of the State Party.
It will also strengthen Nigeria’s position at during negotiations in the outstanding areas such as Services, Investment etc. On our part in NACCIMA as part of strategic planning and readiness we have been closely working with various stakeholders such as Afriexem bank the UNECA, regarding operational issues areas such as effectiveness of the Pan African Payment and Settlement system.”
The Association noted that with this decision to ratify the Agreement, Nigerian companies must be ready and be prepared to be a part of the Afcfta.
“The NACCIMA Dialogue Series on the Afcfta which we have been running for sometime will continue to be actively pursued and we will do so through the new normal virtual means. This is to prepare our members for an understanding of the fine details of the Agreement to ensure that they can be able to fully harness it’s benefits as trading takes off.
We are indeed committed to the goal of ensuring that Nigerian companies become an effective player in the Afcfta and we are ready to work with all stakeholders including the National Action Committee on Afcta as well.” Olukanni said.