Date: May 2, 2024
Today, the International Trade Centre (ITC) and the German Corporation for International Cooperation (GIZ) conducted a collaborative needs assessment aimed at enhancing trade facilitation along the Lagos-Abidjan Trade Route. The assessment identified key challenges hindering trade operations and proposed strategies for addressing them.
The Lagos-Abidjan Trade Route serves as a vital artery for regional trade and economic integration. However, businesses operating along this route encounter numerous obstacles that impede the smooth flow of goods and services. Recognizing the importance of addressing these challenges, the ITC and GIZ embarked on a joint initiative to conduct a comprehensive needs assessment in collaboration with BACCIMA.
Key challenges identified during the assessment include infrastructure deficiencies, regulatory bottlenecks, border delays and corruption, and information asymmetry. Inadequate road conditions, complex regulatory frameworks, prolonged border delays, and limited access to accurate information were cited as major impediments to trade facilitation.
Alhaji Fatai Adegboyega Shokunbi, President of BACCIMA, emphasized the importance of collaborative efforts in addressing these challenges. "Enhancing trade facilitation along the Lagos-Abidjan Trade Route requires a coordinated approach involving stakeholders from both the public and private sectors," said Shokunbi. "Through joint initiatives and tailored strategies, we can create an enabling environment for trade and economic growth in the region."
The joint needs assessment signifies a commitment to fostering economic integration and promoting trade facilitation along the Lagos-Abidjan Trade Route. By leveraging collective expertise and resources, stakeholders aim to develop sustainable solutions that address the identified challenges and unlock the economic potential of the region.
For further information on the joint needs assessment and upcoming initiatives, please contact [Your Contact Information].
About ITC:
The International Trade Centre (ITC) is the joint agency of the World Trade Organization and the United Nations. ITC's mission is to foster inclusive and sustainable economic development through trade and international business development.
About GIZ:
The German Corporation for International Cooperation (GIZ) is a federal enterprise supporting the German Government in achieving its objectives in the field of international cooperation for sustainable development.
About BACCIMA:
The Badagry Chamber of Commerce, Industry, Mines, and Agriculture (BACCIMA) is a leading business association dedicated to promoting trade and economic development in the Badagry Division.
