Nigeria is strongly advocating for a decisive shift towards value-added agribusiness and industrial partnerships between African and Arab nations, positioning regional cooperation as the vital engine for shared economic growth amidst a fluctuating global economy.
Speaking on Friday at the Agribusiness Matchmaking Forum, held ahead of the Arab-Africa Trade Bridges (AATB) Board of Governors Meeting, Nigerian Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stressed that this is a critical juncture to move from ambition to action.
Minister Edun highlighted the significant economic opportunities present in deeper collaboration, citing projections that Arab–African trade could grow by more than $37 billion over the next three years. This figure underscores the vast, untapped potential that both regions stand to gain by intensifying commercial links.
However, the Minister issued a clear call to action, urging partners to “prioritise value addition rather than raw commodity exports.” This focus on processing, manufacturing, and industrialisation is crucial for building resilient economies, creating sustainable jobs, and capturing greater revenue from global value chains.
Raw agricultural goods like edible fruits and nuts, coffee, tea, mate, spices, and edible vegetables, are exported from Africa to Arab countries. These sectors the minister emphasized can be processed in value chains.
Arab states are major exporters of chemical fertilizers and other organic and inorganic chemicals used in agriculture and industry across Africa.
The United Arab Emirates (UAE) reported over $100 billion trade with Africa this year.
“This is a moment to turn opportunity into action,” Minister Edun declared. “By working together, we can build stronger value chains, create jobs and support prosperity across our regions.” He emphasized.
The Agribusiness Matchmaking Forum and the subsequent AATB Board of Governors Meeting served as a strategic platform to facilitate tangible deals. The meeting was instrumental in formalising Nigeria’s commitment to the regional trade body, culminating in the signing of a Membership Agreement that officially admits the country into the Arab Africa Trade Bridges (AATB) Programme.
At least 10 major trade deals, each worth a minimum of $100 million, are currently being negotiated between African and Arab businesses, indicating a strong momentum towards realising the projected trade growth.
