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Abuja, Nigeria | ISAAC KHISA | The African Export-Import Bank (Afreximbank) and the World Trade Center Miami Inc (WTCM) have signed a three-year memorandum of understanding that will enable the two institutions benefit from each other’s knowledge, experience and capabilities in pursuing the expansion of US-Africa business relationships.
The MoU signed on July 13 during the Afreximbank Annual Meetings and 25th Anniversary Celebrations taking place in Abuja, Afreximbank and WTCM will use their resources to strengthen the commercial partnership between countries in the Americas and Africa.
They will collaborate in Miami, the United States, the Americas and throughout Africa to mobilize public and private sector support and resources to grow the opportunities for two-way trade and investment.
“Afreximbank’s Trade Fairs and trade shows are an important element in our strategy to develop and expand intra- and extra-African trade through the networking, guidance, information and deal making opportunities that they provide,” Afreximbank President, Benedict Oramah, said.
“Afreximbank is developing its offices into iconic business complexes, branded ‘Afreximbank – African Trade Centres’, with one-stop trade services shops, which will include auditoriums, conference centres, trade information centres, export credit agencies, commercial banks and small business innovation and incubation hubs.”
“Afreximbank will work with the World Trade Center Miami to access the World Trade Center Association’s platform and its global network in order to develop our Afreximbank-African Trade Centres. WTCM will also work with us to promote the Intra-African Trade Fair and other trade shows organized by the Bank. They will provide advisory, counselling, marketing and guidance for our trade show planning,” he added.
Over the last year alone, the total US trade with Africa increased from $33 billion in 2016 to $38.5 billion, approximating an increase of $5 more for every person on the continent, according to Bianca Corgan, who works in the Bureau of African Affairs at the U.S. Department of State.
World Trade Center executives said the new partnership will partnership will facilitate access of Africa’s products to various parts of the US as well as the Latin America.
WTCM is a member of the World Trade Centers Association, the preeminent global trade organization promoting two-way trade and facilitating import/export activities between the Western Hemisphere and other global markets through trade shows, trade and logistics assistance programs, educational programs and other special events.
More than 100 speakers, including heads of state, ministers, central bank governors, director generals of international trade organisations, business leaders, African and global trade development experts and academics, are attending the Afreximbank Annual Meetings and 25th Anniversary Celebrations.
