President Muhammadu Buhari yesterday in Istanbul, Turkey while speaking at the ongoing ninth summit of the D-8, has reassured of Nigeria’s preparedness to host the meeting of D8 Ministers of Industry between November 14 and 17, this year in Abuja.
This was disclosed by the Senior Special Assistant to the President, Malam Garba Shehu, in a statement, said Buhari also reiterated Nigeria’s commitment to international trade and development and urged D-8 leaders to prioritise incentives and measures aimed at increasing trade and investments among member countries.
Buhari observed that the private sector and business communities in the economic organisation must be assisted with incentives to widen economic cooperation among member-states.
Buhari also stressed the need for prospective investors to take advantage of the Nigeria’s new policies on trade facilitation.
‘‘As the D-8, we need to intensify our activities with a view to enhancing various measures and incentives introduced to promote trade and assist the business communities from Member States to invest in our countries and widen our cooperation.
‘‘We need to work hard to establish integrated manufacturing structures and markets. I will like to reiterate the importance of increasing trade and investment among our Member States,’’ Buhari was quoted as saying.
Highlighting the attractive business and investment opportunities in the country, the statement added that the President stressed the need for prospective investors to take advantage of the federal government’s new policies on trade facilitation.
‘‘Nigeria is committed to, and is actively pursuing a policy of trade and investment facilitation for growth. The gains from trade are reflected in greater competitiveness, improved productivity, job creation, consumer welfare and prosperity.
‘‘Economies that grow fastest and at more sustainable rates are those that actively promote trade and attract investment. We are committed to creating an enabling environment and making Nigeria an attractive place for business and investment,’’ the President said.
Shehu said the President also urged D-8 member countries to support the efforts of the African Union (AU) to establish the first ever single market for trade in goods and services on the continent and described the AU-backed Continental Free Trade Area for Africa as a ‘’win-win for all, including member countries of the D-8.’’
Buhari added: “I am pleased to inform you of positive market developments currently in Africa, that will support our efforts as members of the D-8 to enlarge our markets, facilitate our trade and investments, and develop our economies.
‘‘In Africa, we are on the threshold of finalising negotiations to establish the first ever Single Market for Trade in Goods and Services on our Continent, in the Continental Free Trade Area for Africa. This will be a win-win for all, including member countries of the D-8.
‘‘As partners, I urge that we work together to support this effort of the African Union that will have a positive effect on global economic development and integration.’’ Buhari added