LCCI to maximise AfCFTA opportunities through trade fair

LCCI to maximise AfCFTA opportunities through trade fair

By Rukayat Moisemhe, Lagos.


The Lagos Chamber of Commerce and Industry (LCCI) says the 2022 Lagos International Trade Fair (LITF) will be used to exploit the opportunities of the African Continental Free Trade Area (AfCFTA).


This is following the confirmation of attendance of many African countries, the chamber adds.


Engr. Keye Kupoluyi, Chairman, Trade Promotion Board, LCCI, made the declarations at a news conference on Friday in Lagos.


The trade fair, which will hold at the Tafawa Balewa Square (TBS), Lagos, between Nov. 4 and Nov. 13, has “Connecting Businesses, Creating Value” as its theme.


Kupoluyi said the fair, which would be declared open by President Muhammadu Buhari, would boost global and regional trade for start-up brands, big industries, tech hubs and multinational companies and strengthen existing foreign partnership ties to support African trade.


He said that invitations had been sent to over 50 countries, with India, Japan and Ghana’s interests at the fair confirmed, and talks at advanced stages with countries like Cote d’Ivoire, Cameroon, Burkina Faso, Zambia and Indonesia.


He added that many corporate organisations, government Ministries, Departments and Agencies (MDAs) and private sector operators had announced their readiness to explore the opportunities presented by the trade fair.


“About 54 countries have been invited to this year’s LITF and many of their ambassadors were visited, and 10 have already confirmed their participation while others are still processing their participation.


“The LITF promises to be bigger, better and more beneficial for LITF, investors, foreign partners and the global economy.


“Our sponsors, such as the United Bank for Africa Plc, Dangote Group, Choice International Group (Makers of GREE Air-conditioners), MTN Nigeria, FEDAN Investment Ltd., De United Foods Ltd., Bank of Industry (BOI) and Flour Mills of Nigeria Plc., are ready to take the centre stage.


“I assure you that this year’s event will be far better, bigger, safer and more prosperous for all of us largely because the global pandemic, which had impacted negatively on the fair in the past two editions, has now been effectively curtailed,” he said.


Kupoluyi said that the event, because of the confirmed increase of visitors and exhibitors, shall be held at the cricket pitch area for more space to meet exhibitors’ demands and more opportunity for improved logistics and ambience.


“This year also, we intend to have an ICT hall, to give our partners and other participants in the ICT sector deserved prominence, visibility and business opportunities.


“For the first time in the history of the LITF, insulated panels shall be provided for our exhibitors and a children’s corner to celebrate Christmas, with interactions with Father Christmas and lots of gifts, is part of the trade fair package this year,” he said.


Also, Director-General, LCCI, Dr Chinyere Almona, projected that the fair would ensure that businesses met sales target, boosted trade volume, eliminated market restrictions and integrated wider markets for more investments.

She said that LITF would support the AfCFTA agenda to enable key African markets to engage other countries across the world.

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