Perchstone & Graeys 7th Annual Law Series, India 2013
Written by AT-News
Perchstone & Graeys, a prominent law firm in Nigeria, is organizing the 7th edition of its Annual Law Series in India with the theme: “Securing Energy for Emerging Markets – An African/Asian Experience”.
As a business networking seminar, the Series goes beyond the orthodox and seeks not only to promote interaction amongst local and international business leaders in the public and private sectors, but also to influence government policy by highlighting international best practices supportive of Nigeria’s growth aspirations and tailoring them towards our unique circumstances.
This year, the focus of the Series is on the key issues of energy and emerging markets, speaking to the power sector reform in Nigeria and the search for cheaper, safer and environmentally friendly sources of energy globally. The power sector reform holds great promise of economic prosperity for Nigeria and the Law Series presents an opportunity to draw attention to the consequential investment opportunities. On the other hand, the emergence of a number of fast rising economies in the international market, of which India is one (listed among the BRIC nations projected to become the dominant economies of the 21st century), has similarly informed our decision to focus on such markets. According to the National Bureau of Statistics, India is also Nigeria’s third largest trading partner and the 5th largest consumer of Nigerian exports. India thus maintains a special relationship with Nigeria which we believe can be mutually exploited still further.
The event is organized in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI) and some of the resource persons include the Nigerian Minister of National Planning, Dr. Shamsuddeen Usman, CON, and India’s eminent lawyer, Mr. Shardul Shroff.
Other details of the event are as follows:
Date: June 7, 2013
Venue: FICCI, Federation House, Tansen Marg, New Delhi, India.
This is a pre-registration event. Register now
Africa: Transforming the U.S.-Africa Commercial Relationship
Written by AllAfrica
Washington, DC — This 113th session of the U.S. Congress has an opportunity to transform U.S. trade and investment relations with Africa.
A key issue is the extension of the African Growth and Opportunity Act (AGOA), now set to expire in September 2015. The Obama Administration and key members of Congress have pledged to work for an 'early' extension of AGOA which, presumably, means that the legislation would be extended within the next 22 months.
This extension needs to occur for a number of reasons.
For one, the African market is not on the radar screen of the American business community. In fact, the U.S. is effectively ceding the African marketplace to companies from China, India, Brazil, Russia, Turkey, the European Union and elsewhere.
Apart from the natural resource sector and some recent investments by major companies such as GE, Symbion, Wal-Mart, Microsoft and Proctor & Gamble, only one percent of U.S. foreign direct investment worldwide is in Africa, and half of this is in extractive industries, according to the Congressional Research Service.
Last year, U.S. exports to Africa were just over $22 billion - about two percent of U.S. exports worldwide. While the volume may be small, these exports support more than 100,000
As Senator Chris Coons writes in the preface to his March 7 report, Embracing Africa’s Economic Potential, “Engagement with Africa is critical to America’s economic interests in the years ahead. Meeting Africa’s growing demand with American goods and services will strengthen our economy, help U.S. businesses grow and create jobs here at home.”