Intra-African trade to generate $25bn business deal – Official

Mr Gerald Nsomba, Manager, Intra-African Trade Finance in AFREXIMBANK, says the proposed Intra-African Trade fair in Egypt is expected to generate about $25 billion business deal.

Nsomba disclosed this in his presentation on Introduction to the Intra-African Trade Fair at the ongoing 9th Trade Ministers Forum on West African Monetary Zone in Abuja on Thursday.

The Theme of the forum is: “Harnessing Intra-West Africa MonetaryZone (WAMZ) Trade Potential Through Value Addition and Diversification” .

He explained that the trade fair would bring together continental and global players to showcase and exhibit their goods and services at Cairo in Egypt.

He said that the trade fair which would commence on Dec. 11 would and end on Dec. 17, would attract 32 African countries and 1,080 businesses.

According to him, the event will bring together no fewer than 70,000 visitors comprising buyers, sellers and investors.

“The 32 countries that have confirmed their participation have started mounting stands at the venue in Cairo while another 16 counties are finalising their arrangement to participate,” he said.

He said that the trade fair would lead to industrialisation of production system in Africa and also give rise to vertical trading chains.

The News Agency of Nigeria (NAN) reports that the forum which attracted representatives from various countries in West Africa will present resolutions to the Ministers forum at Transcorp Hilton in Abuja on Friday.