STRENTHENING INSITUTIONAL CAPACITY FOR TRADE

Transcript:STRENTHENING INSITUTIONAL CAPACITY FOR TRADE:
STRENTHENING INSITUTIONAL CAPACITY FOR TRADE FACILITATION PRESENTATION AT THE NATIONAL CONFERENCE ON NON OIL EXPORT HELD AT TRANSCORP HILTON HOTEL, ABUJA BY DR MUDA YUSUF CEO, CENTRE FOR THE PROMOTION OF PRIVATE ENTERPRISE [CPPE] OUTLINE OF PRESENTATION Concept and Scope of Trade Facilitation Components of Trade Facilitation Institutional Issues in Trade Facilitation Forex Policy Impact on Trade Facilitation Reform Imperatives CONCEPT OF TRADE FACILITATION Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives. The main objective of trade facilitation is to reduce the complexities and costs associated with cumbersome border procedures and controls, while maintaining efficient compliance controls. Trade facilitation is “the simplification and harmonisation of international trade procedures”, TRADE FACILITATION CONCEPT AND SCOPE In its narrowest sense, trade facilitation refers to the reduction of the trade costs associated with moving goods across borders. A broader interpretation encompasses all Non-Tariff Barriers [NTBs] to trade, including behind the border costs associated with the institutional and business environment, services in support of trade, and physical infrastructure in transport, energy and ICT. TRADE FACILITATION CONCEPT AND SCOPE More recent definitions have been broadened to include the environment in which trade transactions take place, that is, the transparency and professionalism of customs and regulatory environments. It also entails the harmonization of standards and conformity to international or regional regulations. TRADE FACILITATION CONCEPT AND SCOPE Trade facilitation according to the WTO refers to the avoidance of unnecessary trade restrictiveness. To achieve this, economies are applying modern techniques, standards and technologies, while at the same time improving the quality of control in an international harmonized manner TRADE FACILITATION AGREEMENT It is the first multinational Trade Agreement to be concluded since WTO was formed 20years ago. Trade facilitation came into force on 22nd February, 2017 when WTO obtained acceptance of the agreement from 2/3 of its 164 members. 153 members [including Nigeria] have ratified the trade facilitation Agreement. Nigeria ratified on 16th January, 2017. About 32 African Countries have ratified the agreement. OBJECTIVES OF THE TRADE FACILITATION AGREEMENT It has the following objectives: Ease the flow of goods across borders It will reduce trade cost by more than 14% in low income countries and 13% in upper-middle income countries. Export requires 2-11 documents and could take between 6-86 days; import requires 2-17 documents and