Sao Tome and Principe Forum said on Wednesday the country would work toward deepening relations with Nigeria by exploring business opportunities that would mobilise private sector players for national development.

The forum’s president, Mike Ozumba, stated this in Abuja when he led members on a visit to the Ambassador of Sao Tome and Principe to Nigeria, Gjazaide Aguar.

Mr Ozumba added that the meeting’s purpose was to deepen engagement with Nigerian investors and entrepreneurs and encourage them to take advantage of the off-shore economic opportunities in Sao Tome and Principe.

He said the visit would allow the forum to discuss mutually beneficial opportunities at the Sao Tome and Principe Investment Summit, which will be held in February 2025.

He spoke of the forum’s commitment to providing decision-makers with access to critical information on trade and investment through its relationship with the African Continental Free Trade Agreement (AfCFTA).

“This partnership and the development-centred relationship between Nigeria and Sao Tome and Principe are that it stands as a gateway to mutual economic and investment opportunities in the light of the AfCFTA possibilities.

“AfCFTA is an ambitious trade pact to form the world’s largest free trade area by creating a single market for goods and services across Africa and deepening efforts toward the economic integration of Africa,” the forum president said.

Chinedu Amadi, director of the forum, said the visit demonstrated the readiness of the Micro, Small and Medium Enterprises (MSMEs) in both countries to leverage the possibilities offered by AfCFTA.

This move, he explained, will lead to sustainable economic development in Africa, attract foreign investors, and strengthen bilateral relations between the two countries.

“The beginning of trading under AfCFTA has put Africa on the global map as the largest integrated trading area in the world by allowing liberalisation of trade in goods, services, and talent without tariffs. This has laid bare fresh opportunities and possibilities with greater promises to fast-track industrialisation and value addition,” he said.

Responding, the Sao Tomé and Principe ambassador in Nigeria praised the forum for the initiative and visit and described São Tomé and Principe as a choice destination for quality investment.

Mr Aguar added that the forum’s partnership and efforts would go a long way in strengthening bilateral relations and promoting trade and investment between the two countries.

(NAN)