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'Free Trade Zones'll Pave Way for Nigeria's Industrialization' The establishment of free trade zones and export processing zones has been described as a sure avenue to pave the way for industrialisation of Nigeria. Speaking at the March breakfast seminar of the Nigerian-South African Chamber of Commerce on Wednesday March 17 2004, Resident Advisor of the Calarbar Free Trade Zone, Mr. Martin Norman, said that the establishment of the Calabar Free Trade Zone had proven to be a decisive factor in the country's march towards industrialization. Nonnan, who made a presentation on the activities and opportunities available at the Calabar Free Trade Zone, said that when investment incentives available at the Trade zone are fully exploited, Nigeria would be an economic force to be reckoned with in the global arena. He pointed out that with the establishment of the free trade zone, over 6,500 exportable products had been identified as producible in, and exportable from Nigeria to other parts of the world, including Europe and America. Exports from the zone, according to him, enjoy free duty, complete ~exemption from taxes eff~cient and transparent Customs processes, among others. Nonnan revealed that 22 companies, covering various sectors were already operating in the free zone, while 15 others are constructing plants and would soon commence operations. In addition to the advantage of boldly setting up Nigeria on the map of exporting nations, Nonnan said the Calabar Free Trade Zone, with the offer of unrivalled investor incentives, would serve to draw in the much needed foreign investment into the economy, with the huge market status of the Nigerian economy, which he described as "super market" of a population of over 150 million people. Nonnan described facilities available at the free trade zone as world class, and in some instances superior to what obtained else where in the world. He said that the free trade zone offered other investment incentives which include immigration, customs and tax incentives. The March breakfast was sponsored by Bendel Brewery Limited, Benin. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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