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It is interesting to know that Nigeria has finally signed the African Continental Free Trade Agreement (AfCFTA) at the last summit of the African Union in Niger. This was an historic event for Nigeria because of the much-awaited desire for Nigeria to sign the AfCFTA. President Buhari initially planned to sign this free trade agreement during the launching at Kigali, Rwanda in March 21, 2018 but he later changed his mind because of some concerns raised by Manufacturers Association of Nigeria (MAN) and other organized private sector on the likely negative impact of this agreement on Nigeria. Now that Nigeria has signed, the question we need to ask is how does Nigeria enjoy the benefit of this agreement? What does the country needs to do to ensure that it is well implemented for the benefit of Nigerian populace? How do we ensure that it does not become one of those agreements that Nigeria has signed in the past which are of no value to the citizen?I will attempt to answer these questions in my next series of articles on AfCFTA Implementation Strategies. This edition is introductory, and it is focused on the composition Inauguration of AfCFTA's implementation committee. The Inauguration of implementation committee becomes extremely important because of the inability to fully enjoy the benefits of such agreement in the past. Even though, Nigeria is a major beneficiary of ECOWAS Trade Liberalization Scheme (ETLS), I think this actually happened by default because many businesses are not aware of it because there is no regular, active and deliberate effort to maximize the utilization of the agreement. In a recent survey conducted by 3T Impex Trade Academy, it was observed that majority of SME manufacturers in Nigeria, and particularly in Lagos do not know about the ETLS, not to talk of how to go about registering their product for it. The few that know about it have a lot of issues on why they will not use it and this will be highlighted in the subsequent editions of this article. However, the major issue that came out of the survey was the lack of sensitization on the details of the programme (ETLS), the processes involve and the profits to the businesses in West Africa. In other to ensure that the Nigerian businesses enjoy in full the benefits of the AfCFTA and also that the prediction of those that are against the signing AfCFTA does not come to pass, there is a need to begin to actively and intentionally put in place programs and policies that will ensure proper implementation of the agreement. I am of the opinion that the proposed implementation committee should include people from both public and private sector. Public sector should include but not limited to the likes of Nigeria Export promotion Council (NEPC), Nigeria Custom Service (NCS), Standards Organization of Nigeria (SON), National Agency for Food and Drug Administration and Control (NAFDAC), Ministry of Foreign Affairs, Ministry of Trade and Investment, Presidential Enabling Business Environment Council (PEBEC), Small and Medium Scale Enterprise Development Agency of Nigeria (SMEDAN) and the Nigeria Office of Trade Negotiation (NOTN)… Continue in page 3

The Ethiopian government on Saturday said the country made more than 1.2 billion U.S. dollars in revenue from the exports of coffee and oilseeds during the just-concluded Ethiopian fiscal year that ended on July 7.

The revenue was generated from the export of coffee, mung beans, white kidney beans, sesame seeds and soya beans, state-affiliated Fana Broadcasting Corporate (FBC) reported on Saturday.

Large amount of the export revenue was generated from the export of coffee. Ethiopia is one of Africa's largest producers of Arabica coffee, in which coffee production is dubbed as the backbone of the country's agriculture-led economy.

Ethiopia also recently revealed a new initiative to uplift the current close to 600,000 tons of annual coffee production to 1.8 million tons within the coming five years period.

According to the Ethiopian Coffee and Tea Authority (ECTA), the Chinese market is expected to be a major destination for

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Ethiopia coffee, oilseeds export revenues hit1.2 bln USD amid growing interest from China

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AfCFTA and Nigeria Poultry industry readiness

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AfCFTA Implementation

Strategies

-Part-1:The Committee

- 1

Export Education:

Improving Export Trade Data in

Nigeria Through CBN TRMS

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Exporter’s Companion

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Export Miscellaneous:

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Export Programme:

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VOLUME 4ISSUE 22

AfCFTA ImplementationStrategies

-Part-1:The Committee

Ethiopia Coffee, OilseedsExport Revenues Hit

1.2 Bln Usd Amid GrowingInterest From China

The African Continents Free Trade Agreement (AfCFTA) an initiative of the African Union mean to create a single continental market for goods and services, with free movement of business persons and investments, and thus pave the way for accelerating the establishment of the Customs Union.

It will also expand intra-African trade through better harmonisation and coordination of trade liberalisation and facilitation and instruments across the RECs and across Africa in general. The AfCFTA is also expected to enhance competitiveness at the industry and enterprise level through exploitation of opportunities for scale production, continental market access and better reallocation of resources.

The agreement will bring together all 55 member states of the African Union covering a market of more than 1.2 billion people, including a growing middle class, and a combined gross domestic product (GDP) of more than US$3.4 trillion. In terms of numbers of participating countries, the AfCFTA will be the world's largest free trade area since the formation of the World Trade Organization. Estimates from the Economic Commission for Africa (UNECA) suggest that the AfCFTA has the potential both to boost intra-African trade by 52.3% by eliminating import duties, and to double this trade if non-tariff barriers are also reduced.

Hence countries across Africa are already justling on how to take maximum advantage of the agreement while country like Nigeria that has over years suffered the negative effects of smuggling from neighbouring countries that have no factories but are major corridors where foreign good are dumped delayed its signing of the agreement so that certain conditions can be reached.

Excerpt: Blue Print Nigeria

for June 2018

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Page 2.

the nation's coffee exports.

In April this year, China and Ethiopia signed a Memorandum of Understanding on coffee exports to China and to deepen bilateral trade cooperation.

Amid increasing demand for coffee among younger Chinese, penetrating the emerging coffee market is also increasingly seen as a major priority among Ethiopian coffee producers and exporters.

Excerpt: xinhuanet

Dubai Exports, the export promotion agency of Dubai Economy, has successfully implemented over 60 per cent of its initiatives designed in support of Dubai Industrial Strategy 2030 in the first phase.

The overall outcomes of the phase-one initiatives, which were endorsed by the General Secretariat of the Executive Council of Dubai, and sector-wise requirements as well as plans for 2019 were recently reviewed by Dubai Exports in a meeting held in accordance with its role in developing exports and driving industrial growth in Dubai.

"The Dubai Industrial Strategy 2030, launched by His highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, seeks to evolve Dubai into a global platform for industries based on knowledge, innovation and sustainability by enhancing industrial growth, industrial independence and integration between economic and strategic sectors," said Sami Al Qamzi, director-general of Dubai Economy.

Al Qamzi added that Dubai Economy along with its agencies is translating the objectives of the strategy into a coordinated approach between various government and semi-governmental entit ies working on modernising industrial activities in Dubai, developing of new industrial activities and enacting laws according to the labour market requirements.

"The manufacturing sector is currently the fourth-largest contributor to Dubai's economy... we have now completed 60 per cent of our Industrial Strategy 2030 initiatives for the first phase, which will be completed by 2021. The first phase will enhance production in Dubai by no less than 3 per cent and positively reflect on the value added in Dubai and the UAE," Al Qamzi said.

Excerpt: Khaleejtimes

President Muhammadu Buhari after several pressure finally appended his signed on the African Continents Free Trade Agreement (AfCFTA) but the question remains, how prepared is the Nigeria poultry industry to take advantage of this, John Oba, questioned the Agreement

HEADLINESOTHER

Recent Ports Shutdown:How Proactive Measures

Could Have SavedNigeria Huge Losses

FX Restriction: MilkImportation Is Not Banned

– ChannelsTV

Dubai Exports MakesHeadway in Industrial

Strategy 2030 Goals

AFCFTA And NigeriaPoultry Industry Readiness

VOLUME 4 ISSUE 22

for June 2018

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Page 3.

...Continue in page 1.

On the other hand, the private sector should include but not limited to the representatives from National Association of Chamber of Commerce Industry Mines and Agriculture (NACCIMA), Bankers Committee, National Association of Small and Medium Scale Enterprise (NASME), Nigerian Association of Small Scale Industrialist (NASSI) and Manufacturer Association of Nigeria (MAN).In the subsequent series of this article, I will be sharing some thoughts on the challenges and factors that have hindered the implementation of these type of agreements in other parts of the world including the ETLS and several things that this committee needs to begin to do in order to be able to ensure that Nigeria fully benefits from this agreement. The strategies to be deployed in overcoming the challenges of implementing free trade agreement in general and AfCFTA in particular is s u m m a r i s e d i n t h e S i x - P i l l a r M o d e l o f Implementation of Free Trade Agreement. These pillars include Communication, Coordination, Collaboration, Capacity, Commitment and Cooperation.The need to properly implement the AfCFTA is becoming highly imperative. From the 2019 first quarter report of the foreign trade statistics released by the National Bureau of Statistics, there is an increase in the non-oil export volume which contributed about 13.3% of the total export volume from Nigeria. The major sector contributing to this increase is the manufacturing sector which constitute 77.3% of non-oil export and 10.19% of the total export in the first quarter. This is a step in the right direction because majority of what Nigeria will have to export to Africa will be manufactured goods.The implication of this is that, our manufacturers will now have more markets since they will be exporting duty free and therefore selling at a price that is most likely going to be cheaper than the ones from other continents of the world. This will consequently increase production and invariably increase the propensity of the manufacturers to hire more staff and thereby creating jobs and consequently reducing poverty in the African soil.

Source: 3T Impex

VOLUME 4 ISSUE 22

AfCFTA ImplementationStrategies

-Part-1:The Committee

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of the Central Bank which has been delayed for so long. Many people in the sector has been clamoring for the need to automate export processes in Nigeria in order to ensure that the timeline required for processing of documentation is significantly reduced.

Another value of the TRMS is the fact t h a t i t w i l l l i k e l y c o r r e c t t h e discrepancies seen in the export data reported by different agencies of government in the country. For example,

AnoThe Central Bank of Nigeria (CBN) governor Godwin Emefiele recently announced that the CBN is almost set to launch a Trade Monitoring System (TRMS) in October 2019. This is an automated system that is designed to reduce the length of time required to process export documents from about one week to just one day. This is a system designed by the government to improve the processes involve in shipping goods and services out of Nigeria. This is a much-awaited initiative and innovation

the export data from the Pre-Shipment Inspection Agent (Cobalt) is different from the export data from CBN, the data from CBN is different from the data obtained from the National Bureau of Statistics (NBS). This distortion in the data is results from the uncoordinated way in which the data is being collected without any thorough monitoring. That is why the launching of the TRMS is extremely important. To be cont'd

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