The Nigeria-Canada Trade & Investment Business Forum (NCTIBF) 2024, organised by Affinity Global Trade & Investment in collaboration with the Africa Trade Desk and supported by the Nigeria High Commission in Ottawa, has set to transform Nigerian businesses seeking expansion into North America. This event, which will take place in Ottawa on October 7 and 8, 2024, aims to enhance economic ties between Nigeria and Canada and presents growth potential for Canadian businesses. This forum is a strategic move by the African giant to strengthen its global economic presence, particularly in North America.
It focuses on key sectors, including energy, manufacturing, fintech, agriculture, and the creative economy. The event will bring together businesses and Investors from both nations, creating a vibrant platform for collaboration and opening up new avenues for growth and expansion. Small and Medium Enterprises (SMEs) in the country are central to the nation’s economic progress and increasingly contribute to its growth. Although advancements have been achieved, many businesses struggle to enter global markets. The NCTIBF seeks to tackle this issue by linking local firms with foreign investors and customers, equipping them with the resources necessary to engage with the North American market and expand their international presence.
Multiple economic sectors will benefit from this collaborative partnership.
With SMEs set to take the spotlight, this forum presents a unique chance for them to display their capabilities to global investors. Domestic companies will interact with their Canadian peers, exploring partnership possibilities that could enhance enduring economic development. For many local entrepreneurs, this occasion serves as an entry point to broaden their market reach and access the opportunities available in Canada. Apostle Cornelius Babalola, CEO of Affinity Global Trade & Investment, expressed the transformative impact this forum could have on local businesses.
By creating a space where local entrepreneurs can build lasting relationships with international investors, the forum aims to unlock new markets and drive sustainable economic growth. With the region’s rich natural resources and Canada’s advanced industries, collaboration has immense potential across various sectors. For instance, agricultural producers might consider collaborating with Canadian agribusiness firms to enhance food production and expand Export capabilities. Additionally, the financial Technology industry presents significant potential for development, as the country’s forward-thinking tech firms can leverage Canada’s well-established tech ecosystem. Similarly, the creative sector can thrive, with fashion, film, and digital creators presenting their talents to a global audience.
Government representatives from Nigeria will attend the event.
Over the years, the two countries have maintained friendly diplomatic ties; however, their economic collaboration has remained limited. The NCTIBF 2024 aims to address this issue by promoting discussions between top government officials and promoting direct business interactions. Leading this effort, Nigerian government representatives, including the Secretary to the Federal Government, will be available to explore methods for enhancing bilateral trade relations. Officials from critical sectors such as Foreign Affairs, Budget and Economic Planning, Culture and Creative Industries, and Petroleum Resources will be present, highlighting the country’s dedication to enhancing economic relations with Canada.
For Nigerian SMEs, the matchmaking sessions at the forum offer a unique chance to pitch their products and services directly to foreign investors and buyers. These engagements are anticipated to bring collaborations, enabling local firms to succeed globally. In a world that is becoming more interconnected, these chances are essential for the ongoing development of local businesses. However, Ottawa, Canada’s capital, was selected as the forum’s location because of its status as a centre for global commerce and diplomacy. By holding the event in Ottawa, local enterprises can engage with influential individuals in the Canadian government, international agencies, and corporate executives. This environment is ideal for dialogue on investment and trade, promoting a climate where collaborative ventures can thrive.
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Lastly, with the country’s drive towards enhanced economic diversification, the NCTIBF 2024 is a significant milestone in its International Trade approach. The nation aims to establish itself as a prominent economic player in Africa through collaborations with global partners and attracting foreign capital. This forum allows domestic enterprises to present their capabilities, build foreign alliances, and secure the necessary funding to expand their businesses. With the event approaching, community enterprises are urged to seize this pivotal moment, which offers the potential to discover new avenues for expansion and cultivate a more prosperous future through trade and investment.