{"id":13667,"date":"2022-03-03T07:10:26","date_gmt":"2022-03-03T07:10:26","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=13667"},"modified":"2022-03-03T07:10:26","modified_gmt":"2022-03-03T07:10:26","slug":"explore-opportunities-in-afcfta-stakeholders-urge-businesses","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/03\/03\/explore-opportunities-in-afcfta-stakeholders-urge-businesses\/","title":{"rendered":"Explore opportunities in AfCFTA &#8211; Stakeholders urge businesses"},"content":{"rendered":"<p>Stakeholders on Wednesday appealed to businesses to explore the opportunities presented by the <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/01\/14\/au-afreximbank-afcfta-inaugurate-pan-african-payment-settlement-systems\/\">African Continental Free Trade Agreement (AfCFTA)<\/a> to grow their business and ensure economic growth.<\/p>\n<p>They said during a webinar monitored in Abuja that the agreement had potential to help businesses to grow and bring about foreign direct investments.<\/p>\n<p>Mr Francis Anatogu, the Executive Secretary, National Action Committee on AfCFTA, said the objective of the agreement was to enhance competitiveness and promote industrial development.<\/p>\n<p>Speaking at the fourth Symposium of Issuers and Investors Alternative Dispute Resolution Initiative (IIADRI), Anatogu said the agreement was also to facilitate movement of capital and investment.<\/p>\n<p>He said that the agreement would help in policies harmonisation to make things easier for exporters.<\/p>\n<p>Anatogu said that although the opportunities in AfCFTA were huge, Africa\u2019s trade was only two to three per cent of global trade.<\/p>\n<p>\u201dAt the National Action Committee, we identified seven goals that we must do to make us ready to trade in AfCFTA.<\/p>\n<p>\u201cWe must produce what we export, we need the right business environment, regulation and laws to be business and export friendly.<\/p>\n<p>\u201cBusinesses are already taking advantage of this, we will navigate the challenges to be able to trade.<\/p>\n<p>\u201cWe cannot say that we are 100 per cent ready but we need to get started.<\/p>\n<p>\u201dThe time to get in is now,\u201d he said.<\/p>\n<p>Mr Olufemi Babem, Partner, Tax Regulatory and Peoples Services, KPMG in Nigeria, said that AfCFTA would help to guarantee access to an expanded market.<\/p>\n<p>He said that AfCFTA had the potential to reduce cost of production and attract new investments.<\/p>\n<p>Babem noted that the key initiatives in businesses were the implementation of cost optimisation and sustainable operations strategies.<\/p>\n<p>\u201cMyth around the AfCFTA is that membership is a silver bullet for economic growth; non-existence of borders suggests removal of regulatory checks.<\/p>\n<p>\u201cAll local companies would benefit from AfCFTA,\u2019\u2019 he said.<\/p>\n<p>The Director-General, Lagos Chamber of Commerce and Industry, Dr Chinyere Almona, said that businesses needed to be ready to take advantage of the benefits embedded in the agreement.<\/p>\n<p>Almona, represented by Mr Sunny Micheal, said, \u201dwe can\u2019t ignore the trade\u201d.<\/p>\n<p>Mr Moses Igbrude, IIADRI Chairman, said that the symposium was to address the numerous complaints raised by corporate organisations on the AfCFTA.<\/p>\n<p>\u201dOur desire is to find out how we can via the platform of the symposium enable\u00a0 private companies in the export value chain,\u00a0SMEs, governments to be on the same page as regards what needs to be done.<\/p>\n<p>He said the symposium would give opportunity to all stakeholders to dialogue and articulate ways to foster mutual and better understanding.<\/p>\n<p>Igbrude said that part of the group\u2019s core objective was to promote and encourage stakeholders in the Nigerian capital market and the general economy to tap into the opportunities offered by AfCFTA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stakeholders on Wednesday appealed to businesses to explore the opportunities presented by the African Continental Free Trade Agreement (AfCFTA) to grow their business and ensure economic growth. They said during a webinar monitored in Abuja that the agreement had potential to help businesses to grow and bring about foreign direct investments. Mr Francis Anatogu, the [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":13683,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[19],"tags":[3405,662],"class_list":["post-13667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-african-continental-free-trade-agreement-afcfta","tag-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Explore opportunities in AfCFTA - Stakeholders urge businesses &#187; BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/03\/03\/explore-opportunities-in-afcfta-stakeholders-urge-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Explore opportunities in AfCFTA - Stakeholders urge businesses\" \/>\n<meta property=\"og:description\" content=\"Stakeholders on Wednesday appealed to businesses to explore the opportunities presented by the African Continental Free Trade Agreement (AfCFTA) to grow their business and ensure economic growth. 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Mr Francis Anatogu, the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/03\/03\/explore-opportunities-in-afcfta-stakeholders-urge-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"BROAD NEWS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-03T07:10:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/broadnews\/wp-content\/uploads\/sites\/11\/images-2022-03-03T080906.996.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"759\" \/>\n\t<meta property=\"og:image:height\" content=\"404\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Caleb Ijioma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Caleb Ijioma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.withinnigeria.com\\\/broadnews\\\/2022\\\/03\\\/03\\\/explore-opportunities-in-afcfta-stakeholders-urge-businesses\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.withinnigeria.com\\\/broadnews\\\/2022\\\/03\\\/03\\\/explore-opportunities-in-afcfta-stakeholders-urge-businesses\\\/\"},\"author\":{\"name\":\"Caleb Ijioma\",\"@id\":\"https:\\\/\\\/www.withinnigeria.com\\\/broadnews\\\/#\\\/schema\\\/person\\\/4292f97d881ddced6dd70acdf5189fe8\"},\"headline\":\"Explore opportunities in AfCFTA &#8211; 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