The Institute of Export and International Trade is delivering its Level 4 Diploma in International Trade training to 26 learners from Nigeria, with a view to the programme being expanded throughout the country.
An induction ceremony on Monday 9 August will kickstart the programme for learners from Africa’s biggest economy, which is in partnership with the International Trade Centres Geneva (ITC) and the Nigerian Export Promotion Council (NEPC).
African growth
The initiative underlines the IOE&IT’s commitment to delivering quality training to the fast-growing African market.
The Institute also currently has two cohorts of nearly 50 learners in Ghana.
According to African Business, UK trade with Africa grew 7.5% in 2020 to $102bn, with a focus on machinery, oil and gas, tourism and professional services.
January 2020 saw the advent of the ground-breaking AfCFTA free trade alliance between 54 of the African Union’s 55 countries, aimed at stimulating intra-Africa trade.
Across 2020, Nigeria maintained its lead as the biggest economy in Africa, reports Business Insider Africa. The latest IMF data ranks Nigeria as the 26th largest economy globally, with an average GDP of $442.976bn.
Opportunity
Trade from Nigeria to the UK currently takes place under Trade Preferences (Generalised Systems of Preferences) although a trade deal has been flagged up by trade envoy Helen Grant MP. She told the Express a deal with the country could be significant for UK plc and that there was “goodwill towards the UK”, in the state.
The UK is keen to boost trade with Africa and hosted a virtual African Investment Conference in January to provide a platform for attendees to hear directly from UK companies about the opportunities and challenges of investing in and doing business across Africa.
