NIGERIA TRADE COMPETITIVENESS; IMPERATIVE FOR GROWTH
Trade is adjudged as a vehicle of globalization and an enhancer of competitiveness. Competitiveness has therefore become synonymous with the measure of the performance or the growth potentials of a nation’s economy, the competitiveness of its developmental projects, its long-term growth and economic prosperity. According to the Observatory of Economic Complexity (OEC) index, Nigeria ranked 148th globally in terms of Gross Domestic Product (GDP) per capita (current US dollars), 50th in terms of total exports, 48th in terms of total imports, and 125th in terms of economic complexity in 2020. Even with perceived improvements in terms of trade and global interactions, Nigeria is still far off the mark with regard to the visible impact on the nation’s wellbeing.
This 90-minute Webinar will explore the factors essential for building and launching a successful Trade Market and it will help establish the fact and highlight the key point that trade is not just a major vehicle of globalization and engine for growth, but a key facilitator in the enhancement of global competitiveness.
The objective of the webinar are:
● To highlight the necessary changes in policy, regulations, and practices needed to support growth of Nigeria’s trade volume and exports.
● To discuss Nigeria’s trade position and ponder on the key priorities for World Trade Center Abuja (WTC Abuja) to engender change of the status quo.
● To emphasize the need for building a strong market position for Nigeria within the ambits of the African Continental Free Trade Area (AfCFTA), and outline recommendations that are imperative to unlock the constraints to growth, development, and expansion of Nigeria’s Trade competitiveness.
● Finally, to communicate the findings of the event to relevant authorities for information and monitoring.