The Abuja Chamber of Commerce and Industry (ACCI) has expressed excitement over the African Continental Free Trade Agreement (AfCFTA) which takes off on New Year day, January 1, 2021.
In a press release signed by its President, Alhaji Al-Mujtaba Abubakar, FCA, the organized private sector group said the development marks a new dawn in the continent’s strive towards economic integration.
“The African Continental Free Trade Agreement (AfCFTA) takes off January 1, 2021, marking a new dawn in Africa’s drive towards economic integration.
“The date marks the realisation of a dream conceived in 1963 during the establishment of Organisation of African Unity (OAU), now African Union.
“Across African capitals, from East to West, and from North to South, the celebration is feverish as Africans, this day, break decades of economic isolation by embracing unhindered trade access and interaction targeted at creating collective wealth and listing Africans out of the poverty bracket.
The group said, as a leading Chamber in Nigeria, ACCI is elated to be part of the historic occasion, “a process in which we actively participated from the beginning to fruition”.
The statement read further, “We want to note that Nigeria has been fervently preparing for this day especially through the mobilisation and strategic activities of the National Committee on readiness for the AfCFTA.
“The various sub-sectoral groups have worked for months collating, designing and launching various sectoral action plans to put Nigerian private sector on strong footing for this continental programme.
“We are glad to affirm that ACCI is a strong partner all through even as we are set to ensure that the various recommendations for accelerated readiness are acted upon.
According to ACCI, Nigeria as the leading economy on the continent, has a historic opportunity to deepen her economic reach and depth across Africa, leveraging on her affirmed strengths in services and manufacturing sector.
It noted that Nigerian firms are already strongly rooted in many African countries, adding, “This new dawn will only enhance rather than diminish Nigeria’s economic influence on the continent”.
The group reiterated its commitment towards supporting Nigeria to achieve her economic objective in the implementation of the AfCFTA programme.
“It is on this note that the ACCI is re-committing itself to continuous mobilisation of her members to tap into the various sectoral action plans to enhance their capacities to trade within the context of the AfCFTA.
“We are also launching a Monthly AfCFTA Monitoring Review Roundtable.
“The goal is to assess development within the free trade process, assess issues of interest and address disputation in the trading process”, the group stated.