The Nigerian Export Promotion Council (NEPC) in a bid to boost the productivity of Nigeria Micro, Small and Medium Enterprises (MSMEs) has entered into partnership with the United Nations Center for Trade Facilitation and Electronic Business (UN/CEFACT) to reduce administrative procedure bottleneck which represent a large proportion of total cost incurred currently by Nigeria Micro, Small and Medium Enterprises (MSMEs).
This was disclosed yesterday in Abuja by the Executive Director of NEPC, Olusegun Awolowo at a workshop organized by NEPC to sensitize exporters and stakeholders on the gains that trade Facilitation avails for Nigeria.
Awolowo explained that the collaboration with UN/CEFACT will avail the country easy and friendly environment for MSMEs to thrive in thereby increasing production.
According to him, “this is true in the case of low-value shipments, where the cost of administration procedures represent a large proportion of total cost incurred, and for Nigeria, where Micro, Small and Medium Enterprises (MSMEs) make up the vast majority of business”.
He pointed out that the objective of the workshop was to enable exporters and relevant stakeholders to have a better understanding of the importance of the UN/CEFACT and leverage on the opportunities it offers in enhancing Nigeria’s national trade competitiveness through international best practices.
“This programme has come at such a critical time when we are redefining our nation’s economy by accelerating its diversification and inclusive growth”. Adding that, the collaboration will simplify national and international transactions by streamlining processes and procedure for export trade.
He stated further that the collaboration is coming on the heels of recent successes recorded in the Country’s quest to ease the time spent on doing business, this he said is according to World Bank report, which noted Nigeria’s marginal improvement from 169 to 149 out of the 190 countries surveyed globally.
Speaking at the event, the Trade Adviser and Chief Negotiator to the Minister of Industry, Trade and Investment, Ambassador Chinedu Osakwe stated that the collaboration present the country with abundant economy opportunities that will boost the productivity of the MSMEs.
“It is from this collaboration that the platform of digital economy that will catapult Nigeria MSMEs into the global market will be birthed”.
Also at the event, Mr. Lance Thompson, Chair, UN/CEFACT said the collaboration will simplify, create transparency and effective process for global business.
Nigeria ratifies the World Trade Organization (WTO) Trade facilitation Agreement (TFA) on 20th January, 2017. The agreement will enter into force shortly (two more ratification to go).
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