Business

Cote d’Ivoire can increase benefits from trade with African Countries- IATF

 

Members of a high level panel of discussants on the prospects of Cote d’Ivoire benefiting from trans-continental trade have said that the country stands a high chance of profiting from it.

The discussion is ahead of the forthcoming Intra-African Trade Fair scheduled to hold in Cairo from 11-17 December. The panelists who met in Abijan, recommended that Cote d’Ivoire can greatly increase the benefits accruing to it from trade with other African countries.

The panel featured Nigeria’s former president Dr. Olusegun Obasanjo, former President of the African Export-Import Bank (Afreximbank) Jean Louis Ekra; Executive Director, General Confederation of Enterprises of Côte d’Ivoire, Dr. Vaflahi Meite and Executive Vice President, Governance, Legal and Corporate Services, Afreximbank, Dr. George Elombi.

 

[penci_blockquote style=”style-2″ align=”none” author=””] According to Afreximbank director of communications, Mr. Obi Emekekwue, the discussion was organised by Afreximbank as part of as part of a stakeholder engagement event to promote the Intra-African Trade Fair (IATF) taking place in Cairo.[/penci_blockquote]

In the panel’s view, Cote d’Ivoire contribution will aid to transform the West Africa region by increasing its sourcing of raw and industrial materials from Africa to feed into its burgeoning light manufacturing sector.

According to Afreximbank director of communications, Mr. Obi Emekekwue, the discussion was organised by Afreximbank as part of as part of a stakeholder engagement event to promote the Intra-African Trade Fair (IATF) taking place in Cairo.

Held under the theme, “Strategy to deepen Cote d’Ivoire–Africa Trade”, the panel discussion looked at the key issues that need to be addressed in order to increase Cote d’Ivoire-Africa trade.

The panellists highlighted the need for Cote d’Ivoire to build up its capacity in agro-processing around edible oils in order to improve its trade capacity.

Cote d’Ivoire Minister of Water and Forest, Alain-Richard Donwahi, who declared the session open, on behalf of in for the Minister of Trade, Industry and Promotion of SMEs, Souleymane Diarassouba, expressed appreciation to Afreximbank for its work in support of expansion of African trade and for organising the IATF.

The minister announced that Cote D’Ivoire would take a country pavilion at the IATF to showcase its trade, investment, tourism and cultural opportunities and requested that the country be considered to host of the second edition of the IATF.

 

 

[penci_related_posts taxonomies=”undefined” title=”Online Related Posts” background=”” border=”” thumbright=”no” number=”4″ style=”grid” align=”none” displayby=”recent_posts” orderby=”random”]Managing Director of the Intra- African Trade Initiative at Afreximbank, Kanayo Awani, told the audience that the IATF would support the emergence of a vibrant private sector that would lead the process of structural transformation of the African and Ivorian economies.

Also speaking, Afreximbank former president, Mr. Ekra explained that the IATF would gather over 1,000 exhibitors and more than 70,000 visitors, made up of buyers and sellers from African and non-African countries, and would result in the conclusion of approximately $25 billion in trade deals.

 He stated that Afreximbank was developing a trade information portal, which, he said, would include a digital trade fair, that will allow buyers and sellers that are unable to travel to Cairo to connect online and participate in the IATF. That portal will remain active after the physical would have concluded.

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