The Nigerian Economic Summit Group (NESG), Nigeria’s apex private sector advocacy group with commitment to fostering open and continuous dialogue on the country’s economic development, will on Tuesday October 18, 2011, host Chairman of the Export-Import Bank of the United States, Fred P. Hochberg, in Abuja.
In a statement from the group, top government leaders, key private sector players and business leaders including Finance Minister and Coordinating Minister of the Economic Management Team, Dr. Ngozi Okonjo-Iweala, Central Bank Governor Mallam Sanusi Lamido Sanusi, will attend the event which marks a remarkable progress in Nigeria’s drive to attract foreign investments into the country.
Chief executives of key banking institutions in the country are also expected at the dinner to explore ways of attracting more investments from the US into Nigeria.
The Director General of the NESG, Mr. Frank Nweke Jnr., said Mr. Hochberg’s visit on the heels of the forthcoming 17th Nigeria Economic Summit reaffirms global interest in Nigeria’s economic advancement and shows the willingness of global development partners to invest in the country.
“Our Summit, the 17th Nigerian Economic Summit is just a few weeks away and the US EXIM bank Chairman’s visit, at this time, is an affirmation that Nigeria is being rightly positioned as a strategic player in world economy.
We believe that a lot of positive marks will be scored with the visit as it will afford some key private sector leaders the opportunity to meet with Mr. Hochberg and seek ways of advancing economic activities between both countries. Such activities could lead to job creation, infrastructure development, investments in utilities, education, health and a lot more.”
Speaking recently in a keynote address he gave at the Metro Atlanta Chamber entitled, “How the United States Can Gain a Competitive Edge in the Transforming World of Exports,” Hochberg said: “Ensuring American competitiveness requires leveling the global playing field, rebalancing our economy and doing the hard work necessary to tackle domestic challenges,” said Hochberg.
“It requires us to be much more active globally in addressing the rise of state-directed capitalism – and much more thoughtful domestically about how we address obstacles impeding competitiveness. The key is to continue making the U.S. the best – and most strategic – place to start a business.”
He also explained that in order for the nation to lead the world in exports, the U.S. must address market distortions, find additional ways to capitalize on global market opportunities, and tackle domestic issues that hinder our global competitiveness. He outlined the importance of using export financing, trade policy and international enforcement mechanisms to offset market distortions that arise from state-directed capital.
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