Nigeria to develop template for international trade negotiations

As Nigeria works to take its place on the global market, the need to have a defined template for trade negotiations, engagement and policy cannot be overemphasized

With abundant mineral resources and huge human resources, the Nigeria office for Trade negotiation says Nigeria must put in place tariff that encourage investment in all sectors of the economy.

To achieve this, the Director General, Nigeria Office for Trade Negotiations (NOTN) and Chief Trade Negotiator (CTN), Yonov Agah says Nigeria has begun a process of developing a national template that will guide trade negotiations at all levels.

Speaking to Journalists during the closing ceremony of the “National Intensive Trade Negotiations Simulation Skills Course” organized by NOTN,Agah said the template will be ready by June 2022.

He said the template will define Nigeria’s interest, trade policy, development objectives and expectations from any negotiations with other parties either “the US, EU, UK or any trade partner (s); and across different areas to include trade in goods, trade in services, Intellectual Property, investment, and business cooperation”.

He said the template is once developed will be taken to the Federal Executive Council (FEC) for approval,

The DG stressed that trade is about creating opportunities for businesses and should be a win-win situation.

On the Africa Continental Free Trade Agreement (AfCFTA), the DG informed that negotiations around rules of origin are still ongoing.

“AfCFTA is going to happen gradually. Trading started politically on 1st January 2021, but in reality we are still grappling with the rules of origin, documentation, elements of customs cooperation and the final agreements in phase one is yet to be reached. The payment system is now in place. It’s an ongoing process; it’s not a matter of being in a hurry, it’s a matter of getting it right so that the continent doesn’t become a market for third parties, but a market for African companies with value addition and better value chains to help grow the economies of the various countries,” Agah explained

In his remarks Mr.Dickson Yeboah  of the World Trade Organisation (WTO) stressed that all stakeholders in Nigeria have to be consulted in developing a negotiation template to defend the national interest of Nigeria in any negotiation.

He said participants at the simulation skills course have been exposed to new ways in negotiating trade in services and investment which could attract more investment for Nigeria and boost employment opportunities.

“Trade negotiation skills are a way out of recession, therefore, this can expand trade for Nigeria and economic growth,” he added.

For the Director, Research and Advocacy at the Manufacturers Association of Nigeria (MAN), the simulation skills course is a deliberate step to ensure that all stakeholders are carried along in preparation for either regional or multilateral negotiations.

Bilkisu Pai