THE federal government will continue to encourage free trade zones scheme as vehicle for developing industrial potentials of the country and the utilization of local contents as well as inducement of Foreign Direct Investment (FDI).
Chief Jubril Martins-Kuye, minister of commerce and industry, in his key-note address at the opening ceremony of the ministerial session of the just concluded fourth meeting of the National Council on Commerce and Industry (NCCI-04) which held recently in Akwa-Ibom state.
The minister’s address was read by Ms Josephine Tapgun , minister of state for commerce and industry. Reviewing the progress in the commerce and industry sector, the minister stated that the free trade zones scheme has generated millions of employment, encouraged technological transfer and value addition as well as drastically reduced youth’s restiveness in the Niger Delta.
He explained that in its quest for stability of the scheme, the ministry has streamlined the functional role of the Oil and Gas Free Zones authority (OGFZA) in line with the statutory provision of the authorities Act with a view to delivering its mandate optimally.
Kuye said Nigeria has been participating effectively in on-going World Trade Organisation (WTO) Doha Development Round Negotiation which was launched in 2001. According to him, Nigeria’s bilateral trade relations with other countries have been very cordial especially with United States, Europe Union and Asia countries. In this regard, the minister led the Nigerian delegation to the ninth Africa Growth and Opportunity Act (AGOA) forum, held recently in Washington DC and Akansa City of USA.
The forum was attended by participants (public and private) from 38 Sub Saharan African countries and their United States counterparts.
Nigeria, though a leading AGOA beneficiary country in terms of oil and energy related products, is yet to harness its full potentials in the non-oil export and thereby take full advantage of AGOA.
However, the ministry, in collaboration with relevant stake holders on AGOA, plans to reinvigorate the implementation process. It therefore intends to organize the first Nigeria entrepreneurs’ summit in the third quarter of this year to develop the blue print on how to stimulate growth in the real sector of the economy especially on non-oil products.
The minister enjoined each state’s ministry of commerce and industry to set up an AGOA committee made up of relevant government agencies and private sector representatives for wider and effective mobilization of stakeholders. They are expected to render annual report of their activities to the ministry.
Chief Jubril Martins-Kuye, minister of commerce and industry, in his key-note address at the opening ceremony of the ministerial session of the just concluded fourth meeting of the National Council on Commerce and Industry (NCCI-04) which held recently in Akwa-Ibom state.
The minister’s address was read by Ms Josephine Tapgun , minister of state for commerce and industry. Reviewing the progress in the commerce and industry sector, the minister stated that the free trade zones scheme has generated millions of employment, encouraged technological transfer and value addition as well as drastically reduced youth’s restiveness in the Niger Delta.
He explained that in its quest for stability of the scheme, the ministry has streamlined the functional role of the Oil and Gas Free Zones authority (OGFZA) in line with the statutory provision of the authorities Act with a view to delivering its mandate optimally.
Kuye said Nigeria has been participating effectively in on-going World Trade Organisation (WTO) Doha Development Round Negotiation which was launched in 2001. According to him, Nigeria’s bilateral trade relations with other countries have been very cordial especially with United States, Europe Union and Asia countries. In this regard, the minister led the Nigerian delegation to the ninth Africa Growth and Opportunity Act (AGOA) forum, held recently in Washington DC and Akansa City of USA.
The forum was attended by participants (public and private) from 38 Sub Saharan African countries and their United States counterparts.
Nigeria, though a leading AGOA beneficiary country in terms of oil and energy related products, is yet to harness its full potentials in the non-oil export and thereby take full advantage of AGOA.
However, the ministry, in collaboration with relevant stake holders on AGOA, plans to reinvigorate the implementation process. It therefore intends to organize the first Nigeria entrepreneurs’ summit in the third quarter of this year to develop the blue print on how to stimulate growth in the real sector of the economy especially on non-oil products.
The minister enjoined each state’s ministry of commerce and industry to set up an AGOA committee made up of relevant government agencies and private sector representatives for wider and effective mobilization of stakeholders. They are expected to render annual report of their activities to the ministry.
