Former President Olusegun Obasanjo who is the Chair of the Intra-African Trade Fair (IATF2023) Advisory Council has justified how to unlock the untapped potential of African countries.
Obasanjo made this known when delivered a speech at the IATF2023, a hybrid event in Cairo, Egypt yesterday.
The former Nigerian leader noted that the untapped potential of the African continent will be unlocked through cooperation and collaboration.
According to Obasanjo, intra-African trade would foster industrialisation and create job opportunities for Africans.
The former president said that beyond being just an exhibition of goods and services, the IATF2023 was a platform for networking, collaboration and knowledge sharing.
He said, ‘It is bringing together entrepreneurs, investors, innovators, and policymakers from across Africa and its diaspora to exchange ideas, forge partnerships and explore new opportunities,’ the former Nigerian leader.
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‘It is through this spirit of cooperation and collaboration that we will unlock the untapped potential of our continent.
‘The trade fair signified the commitment of Africa and its diaspora nations to economic integration and to their collective determination to create a prosperous future.’
He called on African leaders, policymakers, and representatives to foster an environment conducive to trade by eliminating unnecessary bureaucracy, harmonising regulations and investing in necessary infrastructure.
Additionally, Obasanjo stated that the IATF2023 was a first step towards a time when trade among African countries will be unrestricted, removing obstacles and creating possibilities for everybody.
He exhorted inventors and business owners to grasp the opportunity to forge trade connections within communities and between nations by embracing the spirit of entrepreneurship to open up new markets.
Additionally, the former head of Nigeria pushed them to use technology to open up new markets, link small-scale farmers with international partners, and strengthen the position of women-owned enterprises.
IATF2023 is Africa’s largest trade and investment fair, projected to attract over 1,600 exhibitors and 35,000 visitors and buyers.
The IATF, also known as the AfCFTA Marketplace, is organised by the African Export-Import Bank (Afreximbank) in collaboration with the African Union and AfCFTA Secretariat.
Africa Today News, New York reports that the fair will close on November 15.