Buhari Sets Up Committee to Steer AfCFTA Implementation
The federal government has set up the National Action Committee (NAC) to implement the African Continental Free Trade Area (AfCFTA) Agreement in the country.
The approval for NAC was contained in a statement by the presidential spokesman, Mallam Garba Shehu , weekend.
The Committee which was approved by President Muhammadu Buhari according to the statement will be made up of representatives of various ministries and agencies of government of relevant jurisdiction.
Selected groups in the private sector and members of the civil society organizations are also to be part of NAC.
All members of NAC will have the responsibility of coordinating the implementation of all AfCFTA interventions.
According to the statement, NAC when inaugurated will be saddled with engaging stakeholders to sensitise them on the opportunities and challenges of the AfCFTA.
The statement recalled that Buhari also approved “signature and ratification of the AfCFTA agreement; engaging in the ongoing negotiations of the annexures of the agreement to incorporate safeguards for the economy, such as: a longer period to achieve AfCFTA’s trade liberalisation ambition; common exclusive and sensitive lists for ECOWAS; import quotas for exclusive and sensitive products; security and customs cooperation and other measures to tackle smuggling, non-tariff barriers to trade and predatory trade practices”.
Apart from this, the President had equally approved such other measures that can sustain trade reforms in ECOWAS, such as establishment of a common trade policy; improving the operation and welfare gains from the ECOWAS Trade Liberalisation Scheme (ETLS) and establishment of an ECOWAS peer review and audit mechanism; establishing and championing programmes at AU/AfCFTA to resolve the critical continental level challenges to the success of the AfCFTA, such as smuggling, abuse of rules of origin, low production and service capacities, among others.
Part of the statement reads: “On the list of the president’s approval are: fast-tracking domestic work, for the implementation of AfCFTA readiness interventions to enhance productivity, competitiveness and facilitate trade, which includes policies, to grow local capacity to produce and export goods and services; infrastructure projects, trade facilitation, ease of doing business and trade rules enforcement initiatives.
“Following the signing of the agreement, Nigeria plans to participate in the ongoing negotiations on the annexures of Phase I agreement and protocols to incorporate the above safeguards approved by the president. For Trade-in-Goods Protocol, the annexures will include schedule of tariff concessions; rules of origin; customs cooperation and mutual administrative assistance; trade facilitation; transit trade and transit facilitation, technical barriers to trade, sanitary and phytosanitary measures, non-tariff barriers and trade remedies, for the protocol on trade in goods.
“For Trade-in-Services Protocol, the annexures will include schedules of specific commitments, Most Favoured Nation (MFN) exemption and the annex on air transport.
“Overall, the implementation of the AfCFTA is going to be a long journey. The Federal Government of Nigeria is committed to ensuring that Africa achieves a free and fair trade environment governed by rules that are predictable, enforceable and in line with the intent and objectives of our continent which are growth, through increased intra-African trade, job creation and improved terms of trade in a rapidly changing global economy.”
Buhari had signed (AfCFTA) Agreement on July 7, 2019 in Niamey, Republic of Niger during the 12th Extraordinary Session of the African Union (AU) Heads of States.
The agreement is to create a single market for goods and services, including movement of persons in Africa as part of the efforts increase intra-African trade and deepening African economic integration.
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