FG pri­ori­tises se­same seeds, cas­sava, toma­toes in AGOA deal

Business a.m. - - COMMODITIES & AGRICULTURE - Temi­tayo Aiyetoto

AS THE FED­ERAL GOV­ERN­MENT be­gins the im­ple­men­ta­tion strat­egy to en­sure that non-oil prod­ucts face lesser con­straints in the U. S. un­der the African Growth and Op­por­tu­nity Act (AGOA), se­same seeds, cashew, toma­toes, or­anges, cas­sava, spices and gin­ger are prod­ucts top on the list for ex­port con­sid­er­a­tions.

Oth­ers are shea but­ter, cow pea, ba­nana, plan­tain, ce­ment, clinker, leather and ar­ti­cles of leather, arts and hand­i­crafts, spe­cialty foods and co­coa.

Aliyu Abubakar, deputy direc­tor, Trade De­part­ment, Min­istry of In­dus­try, Trade and In­vest­ment, on Fri­day said Okechukwu Enelamah, the Min­is­ter had given a di­rec­tive to have the doc­u­ment as a fall-out from the AGOA fo­rum that took place in the U.S. in July.

AGOA is a trade pro­gramme de­vel­oped to es­tab­lish stronger com­mer­cial ties be­tween the U.S. and sub-Sa­ha­ran Africa and was signed into law 18 years ago.

The act es­tab­lishes a pref­er­en­tial trade agree­ment be­tween the U.S. and se­lected coun­tries in the sub-Sa­ha­ran re­gion. Ini­tially ap­proved for 15 years, AGOA was reau­tho- rised for ten years in 2015 by the Obama ad­min­is­tra­tion. In its cur­rent form, AGOA will last un­til Sept. 30, 2025.

Abubakar ex­plained that for Nige­ria’s non oil prod­ucts to be ac­cepted, the stan­dards must meet the re­quire­ments of U.S, which makes it im­por­tant for rel­e­vant stake­hold­ers to meet and dis­cuss the out­come of 2018 AGOA fo­rum in the U.S. and get their in­puts on the im­ple­men­ta­tion plan.

Ac­cord­ing to him, the ac­tion plan is nec­es­sary to ac­ti­vate the next line of progress in ex­port­ing non-oil prod­ucts to the U.S. Gov­ern­ments have been taxed to as­sist AGOA el­i­gi­ble coun­tries in putting in place ef­fec­tive and ef­fi­cient mech­a­nisms for ca­pac­ity build­ing at the na­tional and re­gional lev­els to max­imise its uti­liza­tion, the deputy direc­tor said not­ing that open dis­cus­sion on non tar­iff bar­ri­ers af­fect­ing AGOA ex­ports such as the lengthy reg­is­tra­tion process for con­sign­ment were en­cour­aged for dis­cus­sions

Abubakar stated that the fo­rum also charged gov­ern­ments to put in place the rel­e­vant in­cen­tives/mea­sures to at­tract and in­crease U.S. pri­vate in­vest­ments in Africa with a view to ac­cel­er­at­ing the in­dus­tri­al­i­sa­tion and di­ver­si­fi­ca­tion of African economies and ex­ports.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.