The Abuja Declaration adopted by developing countries states that they have agreed to scale up investment in connectivity and infrastructure in order to launch themselves into the centre of the global economy.
The declaration, adopted during the recent high-level trade and investment facilitation forum held in Abuja, stated that developing countries, particularly African countries, need to scale up connectivity of ports, transport corridors, and telecommunications networks.
The Federal Government and the Commission of the Economic Community for West African States (ECOWAS), in partnership with the WTO Friends of Investment Facilitation for Development (FIFD), co-hosted the forum.
The countries also reaffirmed that trade and investment are inseparable and remain indispensable twin engines for economic growth, modernization, and development in Africa as in the wider global economy.
The declaration noted that expanding this required investment – and the global networks, know-how, and technologies that accompany it – required complementary polices, institutions, and best practices, domestically, and regional and international cooperation.