Group urges Okonjo-Iweala to consider trade policies that support SMEs

Africa Business Ventures and Investment Group (ABVIG) has urged Dr Ngozi Okonjo-Iweala, the new Director-General of the World Trade Organisation (WTO), to consider trade policies that will boost Small and Medium Scale Enterprises (SMEs).

ABVIG is a multi-purpose organisation that seeks to promote international trade and facilitate Foreign Direct Investments on the African continent.

Mr Moses Owharo, its Chief Executive Officer, made the appeal on Tuesday in Abuja when he spoke with newsmen.

The WTO confirmed Okonjo-Iweala, Nigeria’s former finance minister, as its new director-general on Monday, making her the first African and the first female to head the global organisation. Her term begins on March 1.

“We appeal to Okonjo-Iweala to consider trade policies that support SMEs which provide living opportunities for poor people in poor countries.

“We call on Mr Joe Biden, President of the United States of America, to give necessary support to Okonjo-Iweala and promote fair play in tackling all trade-related issues between the U.S. and China and their policy frameworks in Africa.

“We call on African nations to cooperate with Okonjo-Iweala to achieve effective implementation of the African Continental Free Trade Agreement to be competitive on global scale,’’ Owharo said.

Owharo congratulated Okonjo-Iweala on her appointment, saying that it was time for the world, especially African countries, to review trade and investment policies, eliminate trade barriers and set veritable frameworks for global trade.

According to him, Okonjo-Iweala’s victory over co-nominees is based on her integrity, knowledge, experience, hard work and ability to hold on to whatever she believes in.

Owharo said that ABVIG would work closely with her through the Organisation of Africa Trade and Investment, Energy, Mining Initiative to enhance post COVID-19 economic response in Africa.