Osinbajo rallies D-8 countries to improve trade relations

Vice President Yemi Osinbajo on Tuesday urged developing countries to foster closer ties and focus attention on energy access by their people.

Osinbajo, according to a statement issued by his Senior Special Assistant on Media and Publicity, Laolu Akande, made the call when the Secretary-General of the Developing 8 (D-8) Organisation, Amb. Isiaka Imam, visited him at the Presidential Villa, Abuja.

Nigeria is a member of the D-8 which is an organisation for development cooperation among eight developing countries – Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.

The vice president said the current trend in the global economy, climate change, and the Russia- Ukraine conflict presented opportunities for collaboration among developing economies.

He said: “This is a very important time for member countries to really focus on the critical issues – trade and energy – especially trade where there is a need for greater trade engagements.”

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Osinbajo said Nigeria offered great prospects for trade expansion among the D-8 members.

He stressed the need for members to use Nigeria as a point to explore opportunities in the African Continental Free Trade Agreement (AfCTA).

The Vice President added: “We think that Nigeria will be able to coordinate the trade routes and opportunities within AfCTA.

“For instance, we are already very prominent in banking services all over Africa.

“I think that is one of the many important areas that we must look at.”

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