Africa Update: ‘Trade between Commonwealth countries to hit $1tr by 2020’

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Africa Update: ‘Trade between Commonwealth countries to hit $1tr by 2020’

The International Trade Centre (ITC) has announced that the trade between commonwealth countries estimated to be about $700 billion in 2015 is expected to hit $1 trillion by 2020.

The Senior Adviser, Empowerment, ITC, Nicholas Schlapher, explained that the opportunities that abounds in the commonwealth market are limitless, pointing out that ITC would be working across commonwealth countries including Nigeria to provide solutions on policy issues specifically to help drive women in business.

According to him, ITC would be providing technical assistance to Nigeria’s agricultural, power and service sectors, stressing that agriculture is key to drive economic growth in Nigeria considering the huge role it plays by contributing over 20 per cent to the Gross Domestic Product (GDP) and employing 45 per cent of the population.

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