The introduction of the Ecowas Trade Liberalisation Scheme (ETLS) has been described as the needed opportunity for the local brands to explore other markets within the West African sub- region.
Speaking at a One-Day Sensitisation Workshop on the ECOWAS Trade Liberalisation Scheme (ETLS), in Lagos, recently, the Assistant Chief Trade Promotion Officer, Nigerian Export Promotion Council (NEPC), Mr Ayodele Sunday, stated that, if well -explored, the scheme would go a long way in boosting trade, enhancing entrepreneurship and developing the economies of participating countries.
The NEPC representative stated that, besides giving the local brands the opportunity to export their products, to other markets within the West African sub-region duty-free, the ETLS, he added, also provided such brands the added value of having their products patronized by over 300million consumers, within the sub-region.
He however lamented that indigenous brands are not availing themselves of the opportunities provided, by such scheme, as evident in the ratings of countries, actively involved within the sub-region.
“No doubt, the ETLS provided a lot of opportunities for the nation’s indigenous brands, one of which is the opportunity to have their products exposed to over 300million consumers, within the sub-region.
“Unfortunately, from the latest rankings of countries actively availing themselves the opportunities provided by the scheme, it’s obvious that Nigeria is not leveraging the market, enough, as evident in the latest ranking which shows the country losing the first place position to her Ghanaian neighbour,” he added.
Speaking at the Workshop, the Senior Trade Facilitation Adviser, ECOWAS/USAID, Mr. Moustapha Gnankambary also noted that the nation’s indigenous brands were not availing themselves the opportunities provided by the Scheme.
He added that the decision to organise the one-day Workshop, in Lagos, was informed by the need to create awareness for the scheme and sensitise companies in Lagos, and within the South Western sub-region, on the opportunities the scheme provided.
“The Workshop is to further sensitise large-scale manufacturers, as well as the small, medium scale enterpreneurs based in Lagos and the entire South West Geo-political zone on the benefits of ETLS, as a tool to capture new markets and generate foreign exchange.
“It is to let them know that the Scheme provides them the opportunity to export their products to other West African countries without payment of duties, while also encouraging intra-regional trade,” he added.
Speaking on behalf of the Lagos Chamber of Commerce and Industry (LCCI), its Deputy President, Mrs. Toki Mabogunje, stated that such sensitization had become imperative if the nation was to achieve its dream of being on a steady economic growth path.
She expressed the willingness of the Chamber to support business ventures, desirous of maximising the opportunities of the scheme.
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