The Abuja Chamber of Commerce and Industry (ACCI) and The Gambia Chamber of Commerce and Industry (GCCI) have signed a memorandum of understanding (MOU) to facilitate and deepen economic ties in both countries. The MOU is to encourage, promote and facilitate trade cooperation among the business communities of both countries.
Under the agreement, both countries would coordinate their activities in order to establish and expand a trade network.
According to reports, the trade network will facilitate business opportunities, collaborate in logistics matters, assist each other in organising or participating in trade fairs, exhibitions, conferences, seminars and other similar activities particularly in areas like tourism, education, oil and gas, construction, agriculture, and technology sectors.
It added that Prince Adetokunbo Kayode, the President of the Abuja chamber, who was in The Gambia at the invitation of the GCCI, also used the occasion to address the Nigerian banking and business community in Banjul, the Gambian capital, and stressed the overarching importance of more business activities between countries in the Economic Community of West African States (Ecowas) sub-region.
He noted that such business activities would help lift the people out of poverty.
Kayode, accompanied by Prof Adesoji Adesugba, the ACCI’s Vice President in charge of ICT, noted that African countries have several competitive and comparable advantages as well as large market which they must develop for the economic advantage of the sub-region.
He told Mr Alieu Secka, the CEO of GCCI and its council members that all African countries should key into the new Continental Trade Free Zone (CTFZ) in order to expand intra-African businesses.
He pointed out that the new dispensation would “mark a turning point in the way we do business among ourselves. A vast market such as Africa’s should be harnessed for the overall benefits of our business communities in our respective countries”.
In his remarks, Mr Secka said the invitation was to establish a practical framework for the development of stronger trade relations between The Gambia and Nigeria and to set forth the procedures of cooperation, which he said could enhance the implementation of reciprocal trade objectives.