NBCC Hosts Forum on BREXIT

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As the date for Brexit draws closer, the Nigerian-British Chamber of Commerce (NBCC) has engaged stakeholders and member partners.
The meeting was to discuss the impact and opportunities for key stakeholders within the Nigerian and British business communities in relations to trade with the United Kingdom in the coming months.

The meeting which was organised by the commission was aimed at enlightening stakeholders on preemptive steps to be taken in positioning their businesses and taking the lead with great advantages the BREXIT has to offer. It also availed member partners and businesses networking opportunities as it was attended by dignitaries such as the Deputy High Commissioner Laure Beaufils, Country Head, Common Wealth Enterprise Investment Council (CWEIC), Obinna Anyanwu, and Ambassador. Chinedu Osakwe amongst others.

Delivering the keynote speech, the British Deputy High Commissioner to Nigeria, Laure Beaufils, was quoted in a statement to have said one major opportunity the Brexit presents to stakeholders was that it avails the British government the independence to put in place its own trade policies as a country, alongside other countries which includes Nigeria and other business communities with affiliation with Britain.

She also stated, that the increased trade relations and engagement would be beneficial for investors and trading markets as the relationships would not just be limited to commercial affairs, but through British establishments and commitments, issues relating to climate change, environment, improved investments for job creation, trade & investments would be addressed as British companies are already looking to add value to the partnerships and increasing investment opportunities within Africa.

Also speaking at the event, the Director General, Lagos Chamber of Commerce and Industry, Muda Yusuf, said there were lots of opportunities for trade between Nigeria and the UK only if the two countries create the enabling environment.
Muda, stated that with Brexit, trade deals would be quicker to access from both countries as it is better and easier to deal with one country as opposed to an economic block which has been in place for years.

He further stated that, trade relations between Nigeria and the UK could be better improved when businesses create a supply and demand chain in terms of strong purchasing power and create an enabling environment for investments to thrive as the dependence on oil and gas, as well as agricultural produce might not be sustainable on the long term as he urged regulators within the Nigerian and British communities to consider putting in place policies such as easy access to finance for local exports, visa waivers for investors, investing in trade shows and trade fairs which could impact positively on the growth of local markets, bi lateral trade relationships and improved investment opportunities.