…seeks collaboration with partners

The Manufacturers Association of Nigeria (MAN) has called for closer collaboration between public and private sector organizations in West Africa to address the slow progress of the ECOWAS Trade Liberalization Scheme (ETLS) . MAN Director General, Mr. Segun Ajayi-Kadir, who made this known in an interview with the New Telegraph in Lagos, said that the ECOWAS trade liberalization scheme contains excellent provisions to develop and promote trade in the West African sub-region, although progress has been rather slow and hampered by a number of factors.

According to him, these political, economic and structural factors have shown that collective cooperation both at the level of the public sector and the private sector is required to accelerate the progress of the integration of the economies in the ECOWAS States. DG MAN explained that there was a high level of mistrust among West African countries despite their support for PLEC in the sub-region. Speaking further on intra-African trade, Ajayi-Kadir added that it was unfortunate that Nigeria’s trade volume in terms of total imports from African countries over the past 10 years had not been than 5.6% on the continent.

He said, “We have a collective challenge across the public and private sectors to accelerate progress in integrating our economies. The ECOWAS Trade Liberalization Treaty contains excellent provisions to develop and promote trade in the West African sub-region, but progress has been rather slow and hampered by a number of factors. “These factors are both political, economic and structural,” he said.

“Our private sector organizations could do much more in the following areas: partnership and cooperation of the various private sector entities in the sub-region, promotion of cross-border investments, greater advocacy of private sector organizations to promote economic integration, development of African Private Sector Champions, development of a framework for the private sector to drive the regional integration process, active promotion and investment in regional tourism to give citizens better exposure to opportunities in the region, collaboration between private sector organizations such as chambers of commerce, business associations and professional bodies on the continent,” he added. The MAN chief regretted that the country’s trade integration within Africa is so weak compared to bilateral trade with foreign countries, which raises concerns about the current status of ETLS regional agreements in the East African Community (EAC) Customs Union, dumping, proliferation of small and illicit arms, smuggling, Trans-African Highway and private sector/African Union/government partnerships.

For him, these are key areas for the success of regional trade in the AfCFTA. Specifically, DG MAN indicated that Nigeria has the lowest import penetration in the continent from African countries, averaging around 20%, adding that this obviously makes the country an export target for many. African countries on the continent. According to him, Nigeria is followed by South Africa, Tanzania, Cameroon and Egypt at the same level, registering around 30% import penetration. He further explained that the main African market for supplying Nigerian imports of manufactured goods was South Africa, which accounted for 34.7% of Nigeria’s imports from African countries in 2017, while five of the top 15 African supply markets, of which South Africa, Morocco, Ivory Coast, Swaziland and Egypt accounted for 79.3% of Nigeria’s imports from Africa in 2017. While breaking down the trade from the continent, Ajayi-Kadir indicated that South Africa (37%), Togo (19.6%), while Côte d’Ivoire, Senegal, Cameroon, Ghana, Egypt, Benin and the Republic of Niger from Nigeria were at least above 1%. On the challenges posed by the ETLS, he revealed that Nigeria was already facing stiff competition from other countries like Ghana, Benin Republic, Cote d’Ivoire and Guinea, especially in products such as handkerchiefs or tissues, parts that can be used only or mainly with spark ignition internal combustion piston, sanitary napkins, plate sheets, film, sheet and surfactant preparation, among others.

TRY TONIGHT!!! —

Abuja Official Reveals Secret Fruits (FREE) That Increased His Size Manh0d, Gives Stronger Erections & Ends Premature Erection In 7 Days…