{"id":32450,"date":"2021-08-05T04:42:42","date_gmt":"2021-08-05T03:42:42","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=32450"},"modified":"2021-10-07T00:43:30","modified_gmt":"2021-10-07T00:43:30","slug":"trade-ministry-commits-to-free-trade-zones","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/trade-ministry-commits-to-free-trade-zones\/","title":{"rendered":"Trade ministry commits to free trade zones"},"content":{"rendered":"<p>The Federal Ministry of Industry, Trade and Investment (FMITI) has restated its commitment to support activities that would harness the immense benefits of Free Trade Zones (FTZs) to Nigeria\u2019s economy.<br \/>\nDr Nasir Sani-Gwarzo, Permanent Secretary, FMITI, said on Wednesday in Abuja.<br \/>\nHe spoke at a one-day sensitisation awareness workshop on the promotion and development of free trade zones across the country.<br \/>\nThe theme of the workshop is entitled: \u201cCreating Awareness on the Activities of the Free Trade Zones in Order to Stimulate Investment in The Sub-Sector\u2019\u2019.<br \/>\nRepresented by Dr Suleman Audu, Director, Commodities and Export Department, FMITI, Sani-Gwarzo stressed the need to explore investment potential in free trade zones to create profitable and sustainable businesses.<br \/>\nAccording to him, it is important to bring to the fore the vast opportunities in the free trade zones and the strategies for harnessing them for wealth creation and employment generation.<br \/>\n\u201cIt is equally important to develop innovative ways to harness the investment potential that abound in the free trade zones in order to create profitable and sustainable businesses.<br \/>\n\u201cAs a ministry, we are committed to supporting activities that will help harness the immense benefit of free trade zones to the economy, which is at the core of why the ministry set up a review committee not too long.<br \/>\n\u201cThe committee will come up with far reaching recommendation that will upscale activities in the zones, especially now that the export market is growing by the day.<br \/>\n\u201cIt is equally important to state that the Federal Government, through the FMITI is committed to the pursuit of implementing the Nigeria Economic Sustainability Plan MSME Fund (NESP-F), designed to revitalise and strengthen MSME in Nigeria,\u2019\u2019 Sani-Gwarzo.<br \/>\nHe urged the private sector to key into the enormous opportunities that are accruable with investment at the free trade zones.<br \/>\n\u201cThe challenges are very daunting but equally surmountable,\u2019\u2019 he added.<br \/>\nCorroborating the Permanent Secretary, Mrs Vivian Ibeku, Deputy Director, Export Promotion and Free Zones, FMITI, described FTZs in Nigeria as evolving with enormous opportunities to create employment and promote non-oil commodities.<br \/>\nIbeku, who expressed concern that potential in FTZs had yet to be harnessed, blamed it on poor implementation.<br \/>\n\u201cIn spite of the evolving positive trends, Nigeria has not maximally harnessed the inherent potential in the sub sector.<br \/>\n\u201cThis is because the country is yet to properly take advantage of the true potential of FTZs as an instrument of economic growth and diversification,\u2019\u2019 She added.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-32450\" data-postid=\"32450\" class=\"themify_builder_content themify_builder_content-32450 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n","protected":false},"excerpt":{"rendered":"<p>The Federal Ministry of Industry, Trade and Investment (FMITI) has restated its commitment to support activities that would harness the immense benefits of Free Trade Zones (FTZs) to Nigeria\u2019s economy. Dr Nasir Sani-Gwarzo, Permanent Secretary, FMITI, said on Wednesday in Abuja. He spoke at a one-day sensitisation awareness workshop on the promotion and development of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[134],"tags":[129],"class_list":["post-32450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-free-trade-zone","tag-free-trade","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trade ministry commits to free trade zones - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/trade-ministry-commits-to-free-trade-zones\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade ministry commits to free trade zones - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The Federal Ministry of Industry, Trade and Investment (FMITI) has restated its commitment to support activities that would harness the immense benefits of Free Trade Zones (FTZs) to Nigeria\u2019s economy. Dr Nasir Sani-Gwarzo, Permanent Secretary, FMITI, said on Wednesday in Abuja. 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