Olawale Ajimotokan in Abuja
A coalition of World Trade Organisation (WTO) Friends of Investment Facilitation for Development (FIFD) has pledged support for the success of the high-level investment forum scheduled for Abuja on November 3 to 4.
The support was pledged in Marrakesh, Morocco, yesterday during the World Trade Organisation (WTO) mini-ministerial meeting.
At the concluding session of the WTO ministerial meeting, Hong Kong China Trade and Industry Secretary, Edward Yau, invited the WTO to ensure the success of the Abuja event on trade and investment facilitation.
The Investment Facilitation for Development is an initiative by some WTO members, including Nigeria as a core member, to constructively and progressively drive trade and investment with concrete deliverables in mind.
 The WTO Investment Coalition consists of Nigeria, Argentina, China, Australia, Brazil, Chile, Colombia, Hong Kong, Japan, Korea, Mexico, Pakistan, Russia, Singapore, Switzerland, Canada and the European Union.
The Abuja event titled: ‘High-Level Forum on Trade and Investment Facilitation for Development’ is expected to bring together African investment and trade decision makers as well private sector representatives to share perspectives on leveraging trade and investment opportunities on the continent.
It seeks to connect actual investors within and outside the continent with African policy makers in order to produce concrete outcomes.
“Nigeria is part of this coalition because we see investment and trade facilitation as a positive and pro-development agenda, and ensure that the WTO is better responsive to domestic economic priorities,†the Minister of Industry, Trade and Investment, Okechukwu Enelamah.
He said the investment facilitation initiative is potentially significant to position WTO better to respond to the investment needs of developing countries in general and African countries in particular.
A draft declaration is being negotiated for finalisation at the WTO in Geneva, Switzerland, as part of the deliverables for the Buenos Aires, Argentina, ministerial conference in December.
