Nigeria to host first international sea trade convention

The International Sea Trade and Investment Convention (ISTI) Committee on Wednesday said that all was set for Nigeria to host its first International Sea Trade and Investment Convention. In a statement in Lagos Mr Adebayo Sarumi, the Chairman of the convention committee said that the aim was to position Nigeria as a maritime hub. The News Agency of Nigeria (NAN) reports that the event, which is scheduled to hold in Lagos on Oct. 5 and 6., is designed as a platform to address issues of new and direct trade route between Nigeria and her leading trading partners. The Convention with the theme “Exploring New Trade Frontiers” will explore cross border potentials along regional trade corridor. It is also aimed at developing viable import/export market, standardise goods and services to meet global certification for export, import and finance, market linkage, trade and infrastructure investment. Also read: Nigerian recruits in Brazil for sub- sea equipment training Sarumi noted that the convention would identify impediments to export trade, restrictions, facilities and regulations within the maritime sector. He also said the convention was planned to create the platform for stakeholders to develop a roadmap to address issues of products, standardisation, financing, incentives and the lack of infrastructure plaguing the industry. "The convention would buoy up Nigeria’s export trade and maritime sector to make it attractive to global buyers and foreign investors’’ he said. Sarumi said maritime and trade in Sub-Saharan Africa region had experienced an unprecedented growth in the last few years, contributing over 15 billion dollars annually to Nigeria’s economy. "This could grow to as much as 50 billion dollars in the next couple of years’’ he added. He said that about 500 delegates from across the world were being expected, with Nigeria’s former Head of State, Gen Abdulsalami Abubakar as keynote speaker. - NAN