The Nigerian-American Chamber of Commerce (NACC), the foremost bilateral Chamber of Commerce in Nigeria, which has as its mandate the promotion of trade and commerce between Nigeria and America, has signed a Memorandum of Corporation with the USAID/West Africa Trade and Investment Hub (WATIH).
WATIH is tasked with facilitating an increase in Africa’s share of world trade by increasing export at a faster rate than the growth in overall trade, and by improving West Africa’s international private sector competitiveness in targeted value chains other than extractive industries.
Speaking on the collaboration, Joyce Akpata, NACC director general, stated that the NACC now becomes the recognised AGOA Trade Resource Centre for the Organised Private Sector in Nigeria and will host the AGOA Desk in its National Secretariat in Lagos. The AGOA Desk will provide advisory services to Nigerian companies to increase their competitiveness, increase regional trade and value-added global exports, particularly to the United States under the African Growth and Opportunity Act (AGOA), as well as facilitate strategic investments to expand exports by providing technical assistance and industry-specific best practices to government and private sector. This will be achieved through regular updates and provision of trade intelligence service to Export Ready Companies (ERCs) and would-be exporters on understanding the US market requirements and regulations, packaging/labelling, costing, and finance, among others. The AGOA Desk will also provide capacity building, business development workshops and trainings based on identified needs of MSMEs.