Sanwo revealed this at the Center for Values in Leadership (CVL) 17th Annual Lecture and International Leadership Symposium on Intra-African Trade Service on Thursday in Lagos.
Sanwo, who was represented by his Deputy, Dr. Obafemi Hamzat, said trade between countries will only thrive when member nations are committed to the principles of fairness, integrity and equity.
He added AFCTA has the potential to boost intra-African trade by about 52 per cent this year.
His words, “If these principles are breached with its attendant negative effects on the economy of one party, then the sustenance of trade relations and the mutual benefits that should accrue from such, would be threatened,”
“Africa stand to gain a lot in terms of enhanced economic growth and development if greater attention is focused on improving the current level of intra-African trade.
”The African Continental Trade Agreement (AfCTA), if well implemented, has a potential to increase intra-African trade by about 52 per cent by 2020.”
Deputy Governor of Edo, Phillip Shuaib added, “For us to enjoy the benefit of our expanded market, we must first work toward reducing or even eliminating those barriers that hinder the African trade such as cross border conflicts, piracy, tariff and transport infrastructure deficit.”
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