Nigeria’s team heads for Rwanda to discuss free trade

The  Federal Ministry of Industry, Trade and Investment says that eight people are to depart for Kigali, Rwanda on Monday to negotiate the Continental Free Trade Agreement (CFTA).

Constance  Ikokwu, Strategic Communications Adviser to Okechukwu Enelamah, Minister of Industry, Trade and Investment made the announcement in a statement in Abuja on Monday.

Ikokwu said the trip was due to a successful outing in Addis Ababa, Ethiopia in November 2016, led by the minister.

She said the team consisted of eight negotiators drawn from the Federal Ministry of Industry, Trade and Investment and the Federal Ministry of Finance.

“It has the mandate to engage colleagues from 53 other African nations on the emerging draft substantive text of the CFTA being reviewed in the six technical working groups.

“Meetings will go on for 11 days and the team is expected to report back proceedings to the Federal Government of Nigeria,’’ Ikokwu said.

She said the team would be led by Chiedu Osakwe, who reports to the Economic Management Team and the Federal Executive Council on commercial investments and geo-strategic interests.

Ikokwu said the team would be expected to send clear, succinct reports that would identify problems; provide assessments and ask for instructions, where instructions were required.

She said the team would argue for “flexibility” that would allow Nigeria to safeguard the economy from a flood of imports even as it remained an open economy.

“These negotiations are a geo-strategic imperative because of Nigeria’s standing, position and leadership.

“Nigeria has a duty to provide leadership, inter alia because the CFTA negotiations are based on a mandate from the Summit of Heads of State and Government of the African Union (AU).

“Increasing intra-African trade is crucial in a global economy that is turning protectionist.

“The CFTA negotiations provide a huge opportunity for economic growth and increased welfare in Africa in a global economy in rapid but uncertain transformation.

“At the same time, we will continue to take into cognizance the complexities of our domestic market and ensure appropriate safeguards for the Nigerian economy,” she quoted the minister as saying.

Ikokwu said the AU had set a deadline of December this year for the adoption of the CFTA.

She said the CFTA would enhance the movement of goods and services, boost trade facilitation and support the presidential initiative on the ease of doing business within the 54-member block of the continent.