United States of America-Africa Trade Commission convenes business working networking with Nigeria as focal point

The U.S.-Africa Trade Commission has convened a Business Networking Lunch-Hour Workshop with Nigeria as a focal point, to showcase the immense potential for deepening economic ties between the United States of America (USA) and Africa.

Penpushing reports that the workshop was held at Envoy Hotel strategically positioned next to the United States of America (USA) Embassy on Diplomatic Drive in Abuja’s Central Business District, Abuja, Federal Capital Territory (FCT)

The workshop served as a platform for insightful discussions, knowledge sharing, and networking opportunities and drew an impressive crowd of entrepreneurs, trade experts, and government officials under the theme “Enhancing U.S.-Africa Trade and Investment Through Strategic Partnerships”.

Penpushing further reports that Managing Partner of JD Global Light Consult Limited, Ms. Taiwo Adekanye representing a firm known for bridging international markets in her opening remarks emphasized the power of strategic alliances

The Managing Director explained that this was about more than trade, but about building a future of shared prosperity, underscoring the private sector’s pivotal role in connecting American and African businesses.

Penpushing also reports that Ambassador Akinremi Bolaji, Director of Economy, Trade and Investment at Nigeria’s Ministry of Foreign Affairs in his keynote address ‘Nigeria as a Trade Powerhouse’, positioned Nigeria as a linchpin for American engagement with Africa, bolstered by the African Continental Free Trade Area (AfCFTA

The Ambassador speaking on the theme, “Strengthening U.S.-Africa Trade Ties: Opportunities for Business Growth and Economic Transformation”, stated that Nigeria’s markets are open, adding those opportunities vast from tech to agriculture

Penpushing reports that he invited American firms to invest, while acknowledging hurdles like infrastructure and policy alignment, while his address blended ambition with a call for practical cooperation, resonating strongly with the audience.

Th Director of Economy, Trade and Investment at Nigeria’s Ministry of Foreign Affairs highlighted Africa’s youthful population, abundant natural resources, and rapidly expanding middle class as major attractions for American investors.

Penpushing further reports that he underscored recent policy reforms aimed at improving ease of doing business in African countries, making them more attractive destinations for foreign direct investment (FDI).

The Ambassador called for stronger bilateral cooperation between the American and African governments to address challenges such as regulatory barriers, infrastructure deficits, and currency fluctuations.

Penpushing also reports that he stressed the need for African economies to diversify beyond traditional exports like oil and minerals, encouraging investments in value-added industries and expressed optimism about the future of America-Africa trade relations, urging participants to leverage the opportunities presented by platforms like this Workshop to forge meaningful partnerships.

The Executive Director of the United States of America-Africa Trade Commission, Engr Titus Olowokere delivered a compelling presentation on “Trading with the USA: Opportunities, Regulations, and Compliance Imperatives (Tips for Entrepreneurs from Developing Countries)

Penpushing further reports that Olowookere in the presentation unlocking the American market for Nigerian entrepreneurs, spotlighted the African Growth and Opportunity Act (AGOA) as a gateway for duty-free exports.

The Chief Executive Officer offered actionable tips on compliance, certifications, and logistics, while his focus on digital trade and small-scale manufacturing struck a chord with attendees eager to scale globally.

Penpushing also reports that Olowokere provided practical insights into navigating the complexities of trading with the United States of America (USA), while key highlights from his presentation included: access to one of the world’s largest consumer markets, with over 340 million people.

The highlights include participation in programs like the African Growth and Opportunity Act (AGOA), which offers duty-free access to American markets for eligible African products, growing demand for African goods such as textiles, agricultural products, and handicrafts.

Penpushing reports that others are over $5.6 trillion in exports and imports of goods and services, largest goods importer in the world, American goods imports from the world totaled $2.5 trillion.

The Chief Executive Officer added that the GDP of the United States in 2020 amounted to 20.93 trillion U.S. dollars, in comparison, Nigeria – $432 billion (2020), South Africa – $301.9 billion (2020),

‘Ghana -$70 billion (2020), while the composite Africa GDP as of 2020 was $2.6 trillion). 2nd largest goods exporter in the world. U.S. goods exports to the world totaled $1.6 trillion’, he stated

Penpushing further reports that Olowokere highlighted on regulations and compliance which include understanding America import regulations, quality standards, labeling requirements, and intellectual property laws.

The Executive Director added that, importance of adhering to anti-corruption measures and ethical business practices when engaging with America entities, leveraging digital tools and e-commerce platforms to reach American consumers while ensuring compliance with online trading rules.

Penpushing also reports that he announced tips for entrepreneurs such as to conduct thorough market research before entering the American market, build strong relationships with America -based distributors, buyers, and industry associations.

The tips equally include seek mentorship or advisory services from organizations specializing in international trade, explore financing options available through institutions like the Export-Import Bank of the United States (EXIM) and other multilateral agencies.

Penpushing reports that Olowokere urged entrepreneurs to view trading with the United States of America (USA) not just as a transactional activity but as a pathway to long-term partnerships that drive mutual prosperity.

The Vice President (International Trade) of the U.S.-Africa Trade Commission, Brandon Smith, enriched the agenda with a presentation on the benefits and opportunities of exporting services from Nigeria to the United States.

Penpushing further reports that Smith showcased Nigeria’s strengths in IT, entertainment, and professional services, citing Nollywood’s global reach and the rise of tech hubs, affirming that America is hungry for Nigeria’s talent.

The Vice President encouraged firms to tap into outsourcing trends and build America. -facing brands, as he expanded the trade narrative, spotlighting services as a dynamic growth area, which include Information Technology (IT): Software development, app creation, cybersecurity, and data analytics.

Penpushing also reports that this includes creative arts: Music production, film editing, graphic design, and content creation, business process outsourcing: Customer support, virtual assistance, and administrative tasks, education and training: Online tutoring, professional training, and language instruction. Healthcare: Telemedicine consultations, medical transcription, and health research.

The benefits of service exports are not left out such as high demand for skilled professionals in America, particularly in tech and creative industries, cost-effective solutions for American businesses seeking affordable yet high-quality services, opportunities for remote work, allowing Nigerian professionals to serve clients without relocating.

Penpushing reports on challenges and solutions he said to over the challenge of regulatory barriers and certification requirements in the America and equally encouraged participants to partner with America-based firms or organizations to navigate compliance issues.

Meanwhile, the Vice President emphasized the immense potential of Nigeria’s human capital and urged stakeholders to prioritize service exports as a viable avenue for economic growth.

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