Trade
By Rabiu Sani-Ali
The Federal Government has restated its commitment to deepening regional trade integration and promoting exports through the ECOWAS Trade Liberalisation Scheme (ETLS).
The Minister of State for Foreign Affairs, Amb. Sola Enikanolaiye, stated this on Saturday in Bauchi at the ETLS sensitisation workshop for the North-East zone.
The workshop was organised with the theme: “Increasing Intra-Regional Trade through the ECOWAS Trade Liberalisation Scheme (ETLS).”
Enikanolaiye urged local businesses and manufacturers to take advantage of the scheme to increase production, create jobs and boost wealth creation.
He said the sensitisation was aimed at creating awareness and improving businesses’ and manufacturers’ understanding of the ETLS and its benefits.
According to him, the scheme is designed to enhance economic cooperation and trade integration among ECOWAS member states and accelerate regional economic growth.
The minister said the ETLS would provide market access for manufacturers and businesses across the ECOWAS member states.
He added that the scheme would help businesses expand their customer base, increase revenue and contribute to Nigeria’s economic growth and prosperity.
Enikanolaiye described the ETLS as a cornerstone of regional trade integration and free trade, aimed at establishing a common economic union among member states.
He said the scheme sought to eliminate customs duties on qualifying products and promote the implementation of a unified customs policy within the subregion.
“The scheme will provide an opportunity to foster greater economic integration and unlock the potential of intra-regional trade.
“The ministry prioritises the wellbeing of Nigerians by involving people at the grassroots in its programmes and foreign policy formulation,” he said.
The minister urged businesses and manufacturers in the North-East to utilise the opportunities provided by the scheme to expand production and promote sustainable economic growth.
He also called for the processing of agricultural produce and raw materials in Bauchi and other parts of the region to support industrial growth and strengthen value chains.
According to him, improved value addition would promote exports, economic diversification and regional trade integration.
Enikanolaiye said the initiatives were part of efforts to support the government’s target of achieving a $1 trillion economy.
Inaugurating the workshop, Gov. Bala Mohammed of Bauchi State said the ETLS aligned with his administration’s development agenda of positioning the state as a trade hub in the region.
Represented by his Deputy, Mr Auwal Jatau, the governor reiterated his commitment to job creation and economic diversification through Public-Private Partnerships (PPPs).
Mohammed said the scheme should create an enabling environment for the integration of the North-East trade corridor, attract investments and remove barriers to legitimate trade.
He assured that the state government would support programmes aimed at promoting manufacturing, businesses and trade.
The governor commended the Ministry of Foreign Affairs, ECOWAS Commission and other stakeholders for organising the workshop.
He called for stronger partnerships to mobilise greater participation in the scheme.
Also, the Permanent Secretary, Ministry of Foreign Affairs, Amb. Dunoma Ahmed, said the ETLS provided local manufacturers, farmers and entrepreneurs with opportunities to expand their businesses across the subregion.
Ahmed, represented by Amb. Ali Gombe, stressed the need for collaboration among stakeholders to ensure effective implementation of the scheme.
On his part, Mr Aminu Ashimi, President of the North-East Chamber of Commerce, called for continuous training of businesses on the ETLS and the formalisation of informal trade to improve productivity and stimulate economic growth.
Ashimi pledged to sensitise members of the chamber on the scheme and encourage them to register under the ETLS and the African Continental Free Trade Area (AfCFTA).
NAN reports that the workshop was attended by manufacturers, entrepreneurs and government officials from Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe. (NAN)
Edited by Emmanuel Afonne