Arab-Africa Summit to Boost Trade Relations – Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the Arab-Africa summit will boost trade relations.
Edun said this at the 5th edition of B2B Agribusiness Matchmaking event, organised by the Arab Africa Trade Bridge (AATB), in Abuja on Thursday.
He said that the AATB agribusiness matchmaking forum was expected to stimulate new partnerships, unlock financing opportunities and accelerate trade flows between Arab and African nations in the coming days.
The minister said that the summit represented a shared commitment to transform Arab-Africa trade relations by moving from dialogue to action, and from goodwill to concrete deals that would drive economic expansion.
He said that the summit came at a critical moment for the continent, especially after the historic G20 summit held last week in Johannesburg, Africa’s first-ever host under the South African presidency.
He said that the summit placed African priorities at the centre, particularly the urgent need for economic growth as the sustainable route out of poverty.
The minister complained that African countries continued to grapple with limited fiscal space and heavy debt servicing obligations that constrain public investment.
He said that the path to real development lied in stimulating private-sector–led growth, foreign and domestic investment, and stronger cross-border partnerships.
“This forum is about unleashing investment, especially intra-African and cross-regional investment.
“In this edition, agribusiness takes centre stage as one of the most important sectors for jobs, productivity, and long-term prosperity,” the minister said.
Edun said that the country’s ongoing economic reforms under President Bola Tinubu’s Renewed Hope Agenda, had improved macroeconomic indicators that position the country as a very attractive, competitive and compelling investment destination.
He commended the AATB secretariat and its partner institutions, the International Islamic Trade Finance Corporation (ITFC), Badia, the African Export-Import Bank (Afreximbank), Islamic Development Bank, ISFD, ICD, among other stakeholders.
He also commended the Nigeria’s local organising team for their collaboration in delivering the event.
The ITFC CEO, Mr Adeeb Aama, said that more than 80 businesses are participating in the event, not just to attend but what happens after matters.
He said that the business-to-business discussions should translate into business partnerships. Aama said that agribusiness was important for every economy and also for food security. NCR Plc: Uncertainties Cloud Earnings Outlook
