Economy
THE Abuja Chamber of Commerce and Industry (ACCI) has commended the Minister of Industry, Trade and Investment , Doris Anite, for setting up the National Trade Intelligence Unit (TIU).
The Director-General of ACCI, Mr Agabaidu Jideani, said this in a meeting with some stakeholders in the industry on Thursday in Abuja.
According to Jideani, the TIU is vital in enhancing effective decision-making and strategic planning for the government and the business community.
He said it was also crucial for transacting international and domestic trade and businesses.
Jideani said the TIU would provide Market Insight by gathering, analysing, and disseminating vital information about global and local markets.
“It indicates emerging trends, consumer preferences, competitor activities, and legal and regulatory changes.
“Armed with this information, businesses and policymakers are enabled to make informed decisions,” he said.
According to Jideani, the unit, if properly utilised, will also help in driving Foreign Direct Investments (FDIs), promote economic growth, and enhance job creation opportunities.
The director-general said this would be done by providing potential investors with insights into market opportunities, regulatory frameworks, and investment climate assessments.
Jideani, however, said that the membership of the coordinating committee for the TIU needed to be expanded to include the business community and the organised private sector.
He said security and intelligence agencies, as vital components of Nigeria’s economic security architecture, should also be part of the Committee.
He said:“the unit is indispensable for navigating the complexities of global trade, enhancing competitiveness, and maximising economic opportunities for Nigeria.
“It serves as a strategic asset to empower government and businesses.
“To make informed decisions, mitigate risks, and capitalise on emerging trends in the dynamic world of international commerce for the benefit of our society.”(NAN)
22nd March, 2024.
C.E.
Tags: ACCI
