Nigeria streamlines export procedure

By February 3, 2017 Investment News

The Federal Government and the United Nations have partnered to streamline the process for exporting goods to the global market.

The Nigeria Export Promotion Council (NEPC) in partnership with the United Nations Centre for Trade facilitation and Electronic Business agreed to simplify national and international transaction.

This partnership is in line with recent successes recorded in the country’s quest to ease the time spent on doing business. According to World Bank report, Nigeria recorded marginal improvement from 169 to 149 out of the 190 countries surveyed globally.

The Executive Director/CEO Nigeria Export Promotion Council NEPC, Olusegun Awolowo said the UN/CEFACT’s goal is simple, transparent and effective processes for globsl commerce. The organisation aims to help businesses, trade and administrative organisation, from countries at all levels of development, exchange products and services effectively.

He spoke at a National Workshop on Trade Facilitation in Abuja, stating that the UN/CEFACT focuses on simplifying national and international transactions by harmonising processes, procedures and information flows, rendering them more efficient and streamlined, with the ultimate goal of contributing to the growth of global commerce.

He said: “Just two weeks ago, Nigeria became  107th member of the World Trade Facilitation Agreement (TFA) in Davos. Ratification of the TFA shows Nigeria’s dedication to UN/CEFACT recommendation and it is a reflection of the country’s commitment to creating an enabling environment for businesses.

“By ratifying the TFA, Nigeria has moved closer to overcoming our cumbersome trade processes and streamlining our trade procedures. The TFA contains provision for expediting the movement, release and clearance of goods. It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance.

“According to a 2015 WTO (World Trade Organisation) study, full implementation of TFA can reduce members trade costs by an average of 14.3 per cent with developing countries having the most to gain. Recommendation 33 establishing a single window interoperability are two more essential UN/CEFACT recommendations with which NEPC has been proud to participate.

Source: The Nation