The Manufacturers Association of Nigeria (MAN) Wednesday called on the Federal Government to be cautious in making binding commitments on the African Continental Free Trade Area (AfCFTA).
MAN President, Dr. Frank Jacobs who stated this in a media parley said it is pertinent to mention that MAN is not oblivious of the benefits inherent in installing a continental trade agreement like AfCFTA; as a continental free trade area could improve intra-African trade and enhance economic growth and sustainable development.
“However, we hasten to add that Nigeria’s national interest should be the primary consideration in the decision to sign-on to such an arrangement” he said.
According to him, the absence of substantive consultation with stakeholders depicts a blatant and fundamental departure from the practice in the past regarding trade negotiations, and most importantly, the requirements by the AU that the private sector in the various states be actively involved in the negotiation process.
He said Government should, as matter of urgency, convene a special meeting of the relevant stakeholders, including experts on trade policy to set in motion a process that will enable all stakeholders on the international trade value chain in Nigeria to quickly review the text of the draft AfCFTA agreement and come up with comments on areas that are not in the best interest of the Nigerian economy and sectors;
Consider tariff lines rates along the line of efficiency, sectoral and sub-sectoral preferences that would be most beneficial to Nigerian businesses under the AfCFTA dispensation.
“Reconsider the National position on EPA vis-a-vis the AfCFTA especially on tariff lines of products on the sensitive/exclusion list, with a view to ensuring that the EU-EPA is not reintroduced through the AfCFTA’s back door; Review all the positions of Nigeria presented by NOTN to the AU-TWG-CFTA so far, especially the position on the framework agreement establishing the AfCFTA, protocols on trade in goods and services as well as justifications for the proposed progressive tariff rationalization;
Mandate NOTN to establish sub-committees of NC-CFTA to review the thematic areas of AfCFTA, to fast track the turning-in of a distinctive position, facilitate the building up of consensus on AfCFTA and other related matters before going for negotiation”
“Obtain and consider ECOWAS position on AfCFTA and mandate NOTN to share the memo on AfCFTA negotiations sent to the Presidency with strategic stakeholders; Review presentations and prepare a detailed submission for the Government on ways and means of participating in the AfCFTA in a manner that our national interest and that of the budding manufacturing sector are effectively protected” he said.
He noted that this decision and the follow-up actions will, no doubt, strengthen the effective and unfettered implementation of the various policy initiatives in support of the industrialisation agenda of this administration.
“With adequate involvement of the relevant economic Ministries, the recommendations earlier mentioned could be harnessed to provide a clear and all-inclusive basis for engaging the African continent in the envisaged trade agreement,” he stated.
