THE ECOWAS and Friendly Countries Trade Fair (ECOFAIR) will boost regional trade and galvanize entrepreneurship development as envisaged by the African Continental Free Trade Agreement, the Convener, Sylvester Ejarkaminor, has said.
Ejarkaminor said this in Lagos on the sidelines of the ECOFAIRS on Thursday, adding that Nigeria would gain a massive inflow of foreign direct investments from the annual event.
He said the fair would also boost the activities of the Small and Medium Enterprises as the exhibition stands were provided at affordable rates to encourage and support small businesses.
He said ECOFAIRS was born out of the desire to create a common business platform for regional entrepreneurs across various sectors and countries.
According to the Convener, Sylvester Ejarkaminor, the ECOWAS and Friendly Countries Commerce Fair will increase regional trade and catalyze entrepreneurship growth as envisioned by the African Continental Free Trade Agreement.
Ejarkaminor said this on the sidelines of the ECOFAIRS in Lagos on Thursday, saying that the annual event will bring in a large amount of foreign direct investment to Nigeria.
The exhibition stands were supplied at low rates to encourage and support small firms, he said, adding that the fair will help increase the activities of SME’s.
ECOFAIRS, he explained, was developed out of a desire to build a common business platform for regional entrepreneurs from a variety of industries and countries.
According to him, the event would feature 32 countries and around 1,000 exhibitors, based on the level of coordination from various countries.
“We hope they will use this opportunity to invest in the country,” he stated adding that the exhibition is in line with the AfCFTA’s goals of promoting intra-Africa commerce.
Dr Lola Akande, the Lagos State Commissioner for Commerce, Industry, and Cooperatives, reaffirmed the state government’s commitment to creating a business-friendly environment and encouraging entrepreneurship.
Mrs Helen Adeshina, who represented Akande, said the fair was in line with ECOWAS’ objective to foster collaboration and integration in trade, energy, telecommunications, and agriculture.
She stated that the Lagos State Government would continue to support entrepreneurs and company owners through its business-friendly policies in order to mitigate the economic issues posed by the COVID-19 pandemic.
She encouraged entrepreneurs and startups to seize opportunities that would allow them to be showcased internationally.
Akande said, “Lagos, with a population of over 21 million people, remains the commercial, industrial and financial hub of the country and also the gateway to globalisation in ECOWAS. The state is also the hub of regional maritime and aviation activities as well as the nerve centre of the non-oil trade in Nigeria.
“With the advent of AfCFTA, Lagos is positioned to engage commercially with other African nations to boost export and create jobs opportunities in the country. The state government has made available remarkable investment opportunities through the Lekki free zone, which provides the organised private sector access to the exportation of goods and services.”
She stated that the current administration had continued to invest extensively in transportation and road infrastructure, citing the renovation of a trailer park and call-up center in Apapa, the network of highways in Lekki, and building work from Epe to Sagamu as examples.
“We would continue to build upon the initiatives as a state government towards a business-friendly environment,” she added.
