Nigeria Hosts Int’l Sea Trade, Investment Convention Oct 5 | Independent Newspapers Limited
Newsletter subscribe


Nigeria Hosts Int’l Sea Trade, Investment Convention Oct 5

Posted: Sep 24, 2015 at 2:28 am   /   by   /   comments (0)

By Oladunjoye Phillip,


The Chairman of the International Sea Trade and Investment Convention’s (ISTIC) Steering Committee, Mr. Adebayo Sarumi, has said that all preparations are ready for the successful hosting of the maiden edition of the ISTIC slated for October 5 and 6, at the Landmark Centre, Victoria Island in Lagos.

He said that the event, with the theme: “Exploring New Trade Frontiers,” is designed to address issues of new and direct trade routes between Nigeria and leading trading partners, explore cross border potentials along the regional trade corridor, the development of viable import/export markets, standardisation of goods and services to meet global certification for export, safety and security on our waterways, import and export financing, market linkage, trade and infrastructure investment.

He said the convention is also aimed at identifying impediments to export trade restrictions, facilities and regulations within the maritime sector. It is planned to create the platform for stakeholders to develop a roadmap to address issues of products, standardisation, financing, incentives and the lack of infrastructure plaguing the industry.

Sarumi said the convention is planned to further buoy Nigeria’s export trade and maritime sector to make it attractive to global buyers and foreign investors, explaining that maritime and trade in the Sub-Saharan Africa region has experienced an unprecedented growth in the last few years, contributing over US$15billion annually to Nigeria’s economy. This, he said, can grow to as much as $50 billion in the next couple of years.

“We plan to bring the best minds to this two day convention featuring conference and exhibition that will engage interactive discussions, high level networking and unrivaled business intelligence through participation of the industry’s foremost stakeholders, decision makers, investors and trade specialists,” he said.

Sarumi said the Convention will also set the stage to further consolidate Nigeria’s position as a regional trade, maritime and logistics hub in Africa. This, he also said, is aimed at supporting government’s diversification program to reduce the country’s dependence on oil.

He said the event will also create a conducive environment that will encourage and recognize the importance of partnerships with key stakeholders across the globe.

“The International Sea Trade and Investment Convention (ISTI) 2015 will attract about 400 delegates from all over the world. Participation will cut across respective trade and investment departments from Europe, Asia, North America, South America and the Middle East, for which confirmation has already been received from some.

“General Abdulsalami Abubakar, former Head of State is confirmed to be the Keynote Speaker.  The convention is being promoted by the Logistics Event Company in partnership with the Nigerian Chamber of Shipping and a host of other partners, sponsors and industry stakeholders like Nigerian Ports Authority, Nigerian Shippers’ Council, Nigeria Export Processing Zones Authority, Airtel and Jovago,” he said.