President Muhammadu Buhari on Friday urged World leaders present at the D-8 summit to prioritize incentives and measures aimed at increasing trade and investments among member countries.
Speaking at the ninth edition of the D-8 Summit held in Istanbul, Turkey, President Buhari commented that the private sector and business communities in the economic organization must be assisted with incentives to widen economic cooperation among member-states.
According to Buhari: ‘‘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.”
As a sign of the country’s commitment to International trade and development, Buhari affirmed that Nigeria is fully ready to host the D8 Ministers of Industry from November 14 – 17 in Abuja.
The President then called on prospective investors to take advantage of the new policies laid out by the Federal Government on trade facilitation as they serve for attractive business and investment opportunities in the country. The Nigerian President also used the opportunity to trump up the support of the leaders present at the D-8 Summit for the African Union (AU) as he called on the D-8 member countries to support the efforts of the AU to establish the first ever single market for trade in goods and services on the continent. This he described as a ’win-win for all, including member countries of the D-8.’’
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‘‘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.
‘‘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 finalizing 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,’’ he said.
In closing, he congratulated the Turkish Government on assuming the new leadership of the economic organization and assured the D-8 leaders that Nigeria would continually support the secretariat towards achieving its visions and objectives.