U.S. And Nigeria Express Satisfaction With Trade Success Under TIFA

The United States and the Nigerian governments have expressed satisfaction with the  progress so far made in their Trade and Investment Framework Agreement (TIFA). The U.S. Consul-General, in a statement issued in Lagos after a meeting of both countries’ representatives in Abuja on Monday, stated that the agreement had since inception promoted trade relations between them.

The statement stated that the U.S. government was represented by its Trade Representative for Africa, Mr Florizelle Liser, while Minister of Trade and Investment, Dr Olusegun Aganga, represented Nigeria.

``Under TIFA, the U.S. will work cooperatively with Nigeria in making significant strides towards improving the environment for business and trade.

``The U.S. -Nigeria Trade and Investment Framework Agreement, is part of a comprehensive U.S. effort to support the Nigerian Government’s efforts to advance trade and economic development,’’ it said

The statement expressed optimism that through the TIFA, U.S. and Nigeria will develop initiatives to expand economic opportunities for workers, farmers, businesses, and consumers in the two countries.

According to the statement, the meeting afforded U.S. and Nigeria the opportunity to discuss on market accessibility, cooperation in World Trade Organisation, commercial environment and intellectual property rights.

The statement added that the meeting was a platform to come up with a roadmap to the implementation of the African Growth and Opportunity Acts (AGOA), as well as improving the bilateral investment climate.

It explained that U.S.-Nigeria agreement was signed in 2000 to provide a mechanism for high-level dialogue for enhancing economic ties between both countries.