The trio of Nigeria, Benin and Cameroon have been urged by the African Development Bank (AfDB) to deepen regional cooperation in order to drive an inclusive continental market.
This call was given by the Director General of the Nigeria Department Office of AfDB, Mr Abdul Kamara, on Thursday, noting the bank had invested $55 billion trade-enabling infrastructure in the continent.
Mr Kamara said the lender had also continued to support programmes and initiatives that enhanced the meaningful participation of women and young people in the African market, thus, ensuring an inclusive continental market.
Speaking at the opening of a technical workshop on trilateral trade cooperation among Nigeria, Benin, and Cameroun in Abuja, Mr Kamara said the workshop was convened at a critical moment in the continent’s economic integration.
He said it aligned with the continental priorities of deepening trade integration, accelerating the development of trade-enabling infrastructure, and policy convergence, commending Nigeria and Benin for the progress achieved in their ongoing trade negotiations.
Represented by Regional Integration Coordinator, Nigeria, AfDB, Mrs Ometere Omoluabi-Davies, Kamara stated that these efforts were expected to enhance economic cooperation and boost trade volumes between the two countries under the ECOWAS Trade Liberalisation Scheme (ETLS) and intra-regional trade flows.
The bank also hailed Benin for its leadership in regional integration.
“According to the Africa Visa Openness Index, a tool developed by the African Union and the African Development Bank to monitor African countries’ performance regarding the free movement of persons, Benin ranks among the best performers on the continent, offering visa-free access to all African citizens.
“Moreover, the recent expansion of port infrastructure strategically positions the country as a trade-facilitating gateway for intra-African trade.
“To build on this momentum, the bank takes this opportunity to urge Benin to consider ratifying the AfCFTA agreement to consolidate and expand its regional integration gains and unlock market opportunities for ‘made in Benin’ goods and services.”
He added, “I also congratulate the Republic of Cameroon for its active engagement in implementing the AfCFTA and the proactive steps it has taken to expand trade beyond the Central African regional bloc.
*Through its participation in the AfCFTA’s Guided Trade Initiative and the strengthening of trade ties with Nigeria and Benin, Cameroon is helping to unlock the potential of cross-regional trade between West and Central Africa, demonstrating the value proposition of the AfCFTA.
“The outcomes of this strategic workshop are critical. They will set a precedent for the coordinated implementation of regional and continental trade arrangements, helping to identify trade-enabling corridors that connect regions and leverage the comparative advantages of each country.”
He said AfDB was committed to supporting its regional member countries in achieving their regional integration goals and ensuring they benefited from it.
Mr Kamara stated that through its Regional Operations Envelope (ROE) and the Regional Public Goods Window, the bank continues to support regional operations to address hard and soft infrastructure challenges and enhance trade, mobility, competitive value chains, and private sector growth across the continent.
“It is our hope that this strategic engagement will culminate in the development and submission of a joint project proposal by the three countries under the ROE, for a regional operation that will unlock market opportunities, enhance trade between West and Central Africa, and promote a coordinated approach to the implementation of regional trade agreements and the AfCFTA.”