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Africa’s Share Of Global Trade Stagnant At 3% Amid Opportunities – Okonjo-Iweala
Though there is room for improvement, Africa's proportion of world trade has remained stable at 3% or less.
Ngozi Okonjo-Iweala, the World Trade Organization's (WTO) director-general, made this claim in a special interview with Channels Television.
Okonjo-Iweala emphasised Nigeria's ability to improve the calibre of its agricultural exports, especially sesame and cowpea, which have the potential to bring in billions of dollars and greatly increase the nation's income.
In order to take full advantage of these opportunities, the WTO chief emphasised the organization's dedication to collaborating with Nigeria and Africa.
"Africa's share of global trade has been stuck at around 3% or less for many years, but there are opportunities to improve that, particularly in Nigeria," the speaker stated. To begin with, Nigeria presents numerous prospects for economic diversification and its revenue source.