In a bid to strengthen the bilateral trade between Nigeria and the United States, the U.S government through it’s Representatives in Nigeria has revealed it’s plans to establish the West African Trade Hub (WATH) in Lagos and Abuja, Nigeria.
Disclosing this was Grace Adeyemo, director of the Nigeria-American Chamber of Commerce (NACC), at a conference for Prosper Africa, an initiative of the US government targeted at “creating an enabling environment for foreign and direct investment” in African countries.
Adeyemo expressed optimism about the economic prospects of the President Donald Trump-backed trade initiative, which, according to her, prompted the decision to move the trade hub into Nigeria.
She, however, noted that Nigerian entrepreneurs who seek access to opportunities that would accrue from the initiative through the hub would need to meet the regulatory standards required to break into the US/global market.
According to her, the NACC would also offer advice to prospective exporters who would like to take advantage of the tariff-free market on the US-Nigeria bilateral trade agreement.
“US representatives have told us that the West African Trade hub would now move into Nigeria to be situated in Abuja and Lagos.
This is so that we can address our challenges and have the hub serve as an overseer reciprocatory for all we’re going to be doing in the US,” she said.
“It will be launched anytime soon. It has always been in Ghana. US government is willing to support a partnership between US investors and Africa.
Nigeria can latch onto that but we need to get it right first. We need to try to grow our businesses and add value to them.”
WATH is a one-stop shop organization backed and funded by the United States Agency for International Development (USAID) to increase the value and volume of West Africa’s exports by addressing challenges in intra-regional and export-oriented products.
