Wednesday, July 9, 2025
23.4 C
Lagos

ADB, ECOWAS Hold Roundtable on Non-tariff Challenges

Representatives from trade ministries of the Economic Community of West African States (ECOWAS), the International Trade Centre (ITC), and other trade, customs and regional organisations will meet in Abidjan on 14 and 15 June to discuss ways of removing regulatory and procedural non-tariff’ obstacles to regional trade.

The roundtable, co-organised by the African Development Bank and ITC, will be attended by Jean-Louis Billon, Côte d’Ivoire’s Minister for Commerce; Aicha Pouye, ITC’s Director of Business and Institutional Support, and delegates from the 15 ECOWAS countries.

ITC will present insights on obstacles to regional trade within the ECOWAS bloc drawn from national business surveys on non-tariff measures (NTMs) in Benin, Burkina Faso, Côte d’Ivoire, Guinea, Mali and Senegal.

These surveys, which collectively document the experiences of nearly 2,000 exporters and importers, capture the trade-related challenges encountered at the product and partner country level by companies, especially small and medium-sized enterprises (SMEs).

NTMs cover measures such as sanitary and phyto-sanitary standards (SPSs), technical barriers to trade (TBTs), price control measures, import and export licensing, inspections, as well as rules determining the origin of goods for the purposes of tariff treatment.

Ms. Pouye said: “The trade landscape of the 21st century is one characterised by low tariffs with the average global applied tariff reflecting around 5% of the cost of trade, while non-tariff measures may account for roughly 30% of international trade costs. It is important to identify these measures and focus on where barriers can be alleviated and regional harmonisation accomplished. This will serve not only to boost inter- and intra-regional trade, but to make the region more attractive to investment.”

Commenting ahead of the meeting, Moono Mupotola, Director of NEPAD Regional Integration and Trade Department at AfDB said: “International trade can be a powerful engine for sustained economic growth, generating new job opportunities. Key policy reforms for increased intra-African trade can lead to youth unemployment reduction and stimulate inclusive growth for Africa’s economic transformation.”

“During our discussions, we will work towards setting up a framework and an action plan to alleviate non-tariff restrictions to boost Africa’s regional integration agenda, one of the five pillars of the Bank’s High 5s vision,” she added.

Participants at the roundtable will look at trade integration initiatives in the region; and analyze high priority obstacles to intra-regional trade identified by governments and other regional stakeholders.

The six NTM surveys will serve as a basis for identifying key challenges and agreeing on concrete action at the national and regional levels to help address the obstacles as a means to further facilitate regional trade integration.

A roadmap for implementation is expected to be validated and announced at the end of the two-day deliberations.

spot_img
spot_img
spot_img

Hot this week

Tinubu Tax Reforms: Transformative Policy Deployment for Nigerian Economy in a Generation – IMPI

The Independent Media and Policy Initiative (IMPI) has said...

Udeme Ufot to Chair QEDNG Creative Powerhouse Summit

Mighty Media Plus Network Limited, publishers of the online...

NESG-Stanbic IBTC Business Confidence Monitor: Easing Macro-economic Pressures, Favorable Business Climate

The Business Confidence Monitor (BCM) is the flagship survey-based...

Universal Insurance, NHIA, PTAD, Rite Foods Sponsor NAIPE 2025 AGM

The Universal Insurance Plc, National Health Insurance Authority (NHIA),...

MTN, 9mobile Ink National Infrastructure Partnership Deal

L-R: Abolaji Idowu, Chief Financial Officer, 9mobile; Omotola Ojutayo,...

Topics

Insurfeel Initiative, ARIAN Donate N12m Insurance Covers to Hawker, Four Others

L-R: National Chairman, AIICO Fieldforce/Senior Agency Manager, AIICO Insurance...

Unilever, Stallion Group Storm Lagos Shopping Festival 2015

Unilever Nigeria Plc, Stallion Group, STACO Insurance Plc and Accion Microfinance Bank Limited have joined a long list of other firms to confirm participation at the maiden Lagos Shopping Festival 2O15 set for December 17, 18 and 19 at Tafawa Balewa Square [TBS], Lagos. The theme of the Festival is: ‘Reinventing the Nigerian Economy via Non-oil Export.’ Other corporate firms set to join the train include Yudala, Skye Bank Plc, Ogun Property & Investment Corporation [OPIC], Wema Bank Plc, Chemical & Allied Products [CAP] Plc, Mr. Biggs amongst others. Prince Cookey, CEO, Lagos Shopping Festival 2O15, says the confirmation of participation by these leading firms is a clear indication that the Festival is on a positive path towards enduring legacy. He said Festival is a bargain opportunity for shoppers and business opportunity for corporate organisations to showcase their products and services in the December shopping season. “December is undoubtedly the NO 1 shopping season in Nigeria. The Festival would be a showcase of consumer goods, financial/insurance services, machinery, automobile and food etc. The essence is to provide consumers the unique opportunity of shopping for a wide range of goods and services at bargain prices while enjoying rare combination of music and entertainment at the venue.”

Polaris Bank Champions Financial Literacy for Students in Commemoration of World Savings Day 2024

Polaris Bank concluded its nationwide financial literacy initiative with...

Banks, Telecoms, Mobility Brands Dominate Q1 2025 Media Performance Charts

Following the Central Bank of Nigeria’s directive to harmonize...

Ecobank Nigeria Unveils Special Loan Package for Female Entrepreneurs

Ecobank Nigeria has unveiled a special loan package for...

WEF: Will Human-centric Data Policy Accelerate Global Progress?

The World Economic Forum and the City of Helsinki will...

Unity Bank Donates N10m to Fiditi National Open University

From Right: Managing Director/CEO of Unity Bank Plc, Mrs....
spot_img

Related Articles

Popular Categories

spot_imgspot_img