President Muhammadu Buhari on
Friday in Istanbul urged D-8 leaders to prioritize incentives and measures
aimed at increasing trade and investments among member countries.
Speaking at the ninth summit of
the D-8, President Buhari said the private sector and business communities in
the economic organization must be assisted with incentives to widen economic
cooperation among member-states.
‘‘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,” he said.
Buhari reiterated Nigeria’s
commitment to international trade and development even as he affirmed the
country’s readiness to host the Meeting of D8 Ministers of Industry from
November 14 – 17 in Abuja.
Highlighting the attractive
business and investment opportunities in the country, 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,’’ he 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.
He described the AU-backed
Continental Free Trade Area for Africa as a ‘’win-win for all, including member
countries of the D-8.’’
‘‘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 added.
Earlier, President Buhari had
congratulated the outgoing Chairman of D8, Pakistani government, and Dr. Seyed
Ali Mohammad Mousavi, the outgoing Secretary-General, on their commitment and
strong resolve to forge the organization ahead even in the face of serious
challenges.
He also congratulated Turkey on
assuming the new leadership of the economic organization.
He assured D-8 leaders that
Nigeria would continue to support the Secretariat in its assignments to achieve
the visions and objectives of the organization.
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