Biden’s Administration will usher in a new dispensation global economy from trade, investment, foreign policy, international cooperation, environmental protection, and security — LCCI
By Eyo Nsima
The Lagos Chamber of Commerce and Industry, LCCI, has expressed hope on the ability and capacity of the United States Biden’s Administration to usher in a new dispensation for the global economy from trade, investment, foreign policy, international cooperation, environmental protection, and security.
Speaking at a press conference in Lagos, Nigeria, President Lagos Chamber of Commerce & Industry, Mrs. Toki Mabogunje on January 26, 2021, said: “The Lagos Chamber congratulates Mr. Joseph Robinette Biden Jr. on his assumption of office as the 46th elected President of the United States of America. We believe the Biden’s Administration will usher in a new dispensation for the global economy from trade, investment, foreign policy, international cooperation, environmental protection, and security.”
She said: “We commend the Biden administration for lifting the immigrant visa ban placed on Nigerians. This reversal is positive for the Nigerian economy as it creates an avenue for many Nigerians to explore the diverse business, educational, and employment opportunities in the United States.
“This gesture is expected to boost US Nigeria trade relations. It would also positively impact diaspora remittance inflows to the Nigerian economy in the medium term given that the US is a major source of Remittances proceeds to Nigeria.
“As a multilateralist, we expect the Biden-led administration to foster international cooperation across the globe. We expect the new administration to recalibrate the global trade system that has been marred by rising protectionism, trade wars, and pandemic-induced supply chain disruptions.”
She added: “We also seek the support of the Biden-led administration for the candidacy of Dr [Mrs.] Ngozi Okonjo-Iweala for the Director-General position at the World Trade Organization. This is even important as the global economy needs to improve trade volume to quicken the economic recovery.”
