Nigeria Accounts For 70% Products Under ECOWAS Trade – FG
The Federal Government has said that Nigeria accounted for between 60 and 70 per cent of products under the Economic Community of West African States Trade Liberalization Scheme, noting that the nation has over 2,400 companies with over 6,900 products under the scheme.
Minister of State for Foreign Affairs, Zubairu Dada, said this on Thursday while declaring open a consultative workshop on ECOWAS post-2020 Vision and how the new vision 2050 would reflect the interests of Nigeria.
The goal of the workshop, he said, was to articulate the views of various stakeholders on the impact of ECOWAS Vision 2020, as well as the expectations of the people of Nigeria, with regards to the formulations of the ECOWAS Vision 2050 document.
The minister stated, “Under the ECOWAS Trade Liberalization Scheme, the region has eliminated over 95 per cent of trade barriers along the border of member states.
“Presently, Nigeria has over 2,400 companies, with over 6,900 products under the scheme. Nigeria alone accounts for 60-70 per cent of the products under ETLS.”
He added that as the December 2020 deadline for the ECOWAS Vision 2020 approaches and response to the many persistent challenges facing the region becomes imperative, the ECOWAS had established a roadmap for a post-2020 Vision for the sub-region.
According to Dada, the achievements recorded by the region in the past years include positive developments in several West African countries.