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Commonwealth Enterprise and Investment Council (CWEIC), has emphasized the relevance of policies and strategies that promote ease of doing business in Nigeria and Commonwealth countries for accelerated economic growth
Commonwealth Enterprise and Investment Council (CWEIC), has emphasized the relevance of policies and strategies that promote ease of doing business in Nigeria and Commonwealth countries for accelerated economic growth. The council has invested in the dissolution of trade barriers that counter the ease of trade in Nigeria.
This was stated by Chief Executive Officer (CEO), CWEIC, Rosie Glazebrook, adding that the current gross domestic product (GDP) of the Commonwealth stands at US$14.5 trillion and is estimated at US$19.5 trillion increase by 2027. She was addressing the press in Lagos, on the upcoming Commonwealth Trade and Investment Summit slated for November 27 to 28, in London. She said Nigeria’s investment climate elicited much interest, especially after the concluded general elections, which has reinstated stability.
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She urged businesses in Nigeria to leverage the summit and also the Commonwealth Trade and Investment Forum, which would be held in October 2024, at Samoa before the Commonwealth Heads of State Summit to accelerate business relations and growth. She said that though Nigeria emerged second after the United Kingdom (UK) in its strategic partnership rating, CWEIC seeks to advance the trade and investment sector by providing support to businesses. Explaining the need for deeper trade relations, she stressed that trade between Commonwealth countries is 21% cheaper. Glazebrook stated that the organisation seeks to follow up on partnerships, in order to support businesses and to build links across other sectors.
