Post by Trade facilitator on Nov 10, 2013 21:09:17 GMT 1
Mr Seyi Onafowokan, Nigeria High Commissioner, on Wednesday bemoaned the less trading activities among Economic Community of West Africa States (ECOWAS).
He said the less trade among member states is an indication that the region is far from integrating, which is a major pillar of the objectives of the ECOWAS.
Mr Onafowokan was speaking when Nigeria held its National Day at the on-going ECOWAS Trade Fair in Accra.
He said trade statistics in Nigeria indicates that about 2.36 per cent and 2.85 per cent of Nigeria export in 2010 and 2011 went to ECOWAS member states as against 97.64 per cent and 97.15 per cent that went to the rest of the world, with western countries taken larger share.
He noted that it easier to import and export products to the UK from Nigeria than to do similar business with Senegal and, while it takes about three weeks to conclude such transaction with the UK, it may take about four months with Senegal.
He said there is no direct ship cargo movement among member states and goods consigned for Senegal for instance from Nigeria would have to go to Europe for transhipment.
Mr Onafowokan said the situation is impacting negatively on individuals and collective socio-economic development of ECOWAS member states as the abundant resources are transferred to the developed world to further develop their economies.
He has therefore called on leaders of member states to invest in infrastructural facilities such as rail, road, sea and air transportations to open up the region.
"Strengthening and respect for ECOWAS protocols to ease movement of goods and people within the sub region would also substantially create income and generate employment that will help in addressing youth restiveness," he said.
Alhaji Aliyu Mohammed Lawal, Acting Executive Director of Nigeria Export Promotion Council said the ECOWAS Trade Fair is unique as it helps to promote trade as well as achieve the aims and objectives of the union.
He said the National Export and Import Bank in Nigeria are working assiduously to ensure that a ship is procured to transport cargo within the sub region.
Source: www.businessghana.com/portal/news/index.php?op=getNews&news_cat_id=&id=192555
He said the less trade among member states is an indication that the region is far from integrating, which is a major pillar of the objectives of the ECOWAS.
Mr Onafowokan was speaking when Nigeria held its National Day at the on-going ECOWAS Trade Fair in Accra.
He said trade statistics in Nigeria indicates that about 2.36 per cent and 2.85 per cent of Nigeria export in 2010 and 2011 went to ECOWAS member states as against 97.64 per cent and 97.15 per cent that went to the rest of the world, with western countries taken larger share.
He noted that it easier to import and export products to the UK from Nigeria than to do similar business with Senegal and, while it takes about three weeks to conclude such transaction with the UK, it may take about four months with Senegal.
He said there is no direct ship cargo movement among member states and goods consigned for Senegal for instance from Nigeria would have to go to Europe for transhipment.
Mr Onafowokan said the situation is impacting negatively on individuals and collective socio-economic development of ECOWAS member states as the abundant resources are transferred to the developed world to further develop their economies.
He has therefore called on leaders of member states to invest in infrastructural facilities such as rail, road, sea and air transportations to open up the region.
"Strengthening and respect for ECOWAS protocols to ease movement of goods and people within the sub region would also substantially create income and generate employment that will help in addressing youth restiveness," he said.
Alhaji Aliyu Mohammed Lawal, Acting Executive Director of Nigeria Export Promotion Council said the ECOWAS Trade Fair is unique as it helps to promote trade as well as achieve the aims and objectives of the union.
He said the National Export and Import Bank in Nigeria are working assiduously to ensure that a ship is procured to transport cargo within the sub region.
Source: www.businessghana.com/portal/news/index.php?op=getNews&news_cat_id=&id=192555
