Countries in the West African sub-region were yesterday reassured of the support of the United States in their quest to establishing a borderless trade environment in the ECOWAS region.
The Nigerian government and other stakeholders of the economy are preparing a stiff resistance against the European Union’s renewed plan to foist a questionable Economic Partnership Agreement on Nigeria, THISDAY has learnt.
If a Free Trade Area were negotiated between Africa’s two largest economies, South Africa and Nigeria, it would have a powerful effect across the sub-continent. However, there are concerns that such an FTA would give one-sided benefits to the South Africans.
The much disparaged European Union’s Economic Partnership Agreement (EPA) got a fresh beating Tuesday in Lagos, as the Manufacturing Association of Nigeria (MAN) told a gathering of Industry stakeholders, including EU’s Ambassador to Nigeria, David Macrae, that the EPA Road Map should be put on hold and that the entire negotiation process be subjected to a complete review.
The European Union has rebuffed claims that the proposed Economic Partnership Agreement with the West African region and Nigeria within the Economic Community of West African States (ECOWAS) is out to undermine the region’s nascent manufacturing sector.
The Economic Partnership Agreement being negotiated with African countries, including Nigeria, on sub-regional basis by the European Union will further underdevelope the continent despite the juicy promises, former governor of the Central Bank of Nigeria, Professor Chukwuma Soludo, has warned.
The 11th Meeting of the joint ECOWAS-UEMOA Committee for the Management of the ECOWAS Common External Tariff (CET) opened in Cotonou, Benin Republic on December 5, to review the draft CET Nomenclature, based on the 2012 version of the Harmonized System and the draft ECOWAS CET prepared by the two regional blocs in Banjul, The Gambia, last April.
The subject of trade barriers has been a recurring issue in the country for years. Thus, a forum that emphasised the need for African countries, West African countries in particular, to trade with each other was organised Thursday by the Lagos Chamber of Commerce and Industry (LCCI).
Union Commerce Minister Anand Sharma today expressed for an early conclusion of Bilateral Investment Promotion and Protection Agreement (BIPPA) with Nigeria.
National Association of Nigerian Traders (NANTS) on Monday said the Economic Partnership Agreement (EPA) negotiations had created some reliefs that could promote regional economic integration in the ECOWAS sub-region.
Prime Minister Sheikh Hasina here today urged the Developing-8 member states to evolve their own mechanism for establishing a D-8 Free Trade Area (FTA) to increase trade and business.
India and its largest African trading partner Nigeria will conclude by June the talks to sign agreements on trade, investment and double taxation avoidance that will lead to a Comprehensive Economic Partnership Agreement (CEPA).
Recently the Thai Commerce Minister visited Nigeria were he discussed the proposal of a Bilateral Trade and Investment Agreement — primarily involving agricultural development — with the Nigerian Minister for Commerce and Industry.
Nigeria, sub-Saharan Africa’s second largest economy, will not sign free trade deals with the European Union until it is sure it can comfortably compete, a minister said on Wednesday.
President Dmitry Medvedev is embarking Tuesday on a four-day African tour, beginning with a visit to Egyptian President Hosni Mubarak before moving on to Nigeria, Namibia and Angola. Medvedev’s trip appears focused on helping Russian companies gain additional access to the continent’s natural resources wealth.
Nigeria has expressed doubts about its readiness to sign the Economic Partnership Agreement (EPA) this month with the European Union (EU).
Nigeria is not ready to sign the Economic Partnership Agreement (EPA) aimed to liberalise trade between Africa, the European Union (EU), Carribean and Pacific countries, Minister of Commerce and Indsutry Chief Achike Udenwa said yesterday.
The European Commission (EC) will give Nigeria 600 million euros to assist it in the areas of trade and regional integration, the head of the EC delegation to Nigeria, Mr. Dennis Theulin said here Friday.
For failing to assent to the interim Economic Partnership Agreement (EPA) being proposed by the EU to the African Caribbean and Pacific (ACP) countries, processed agricultural produce being exported from Nigeria to the EU attracts an extra cost of a minimum of 6 per cent of the total value of products being exported. Similar products being exported from countries such as Ghana, Cote d’Ivoire and others who have endorsed the temporary EPA do not attract this extra cost, therefore putting Nigerian products at a major cost disadvantage in the export of processed products to the EU.
Double standards are being applied in the way that the European Union awards trade preferences to poor countries, an African exporters grouping has alleged.