How Freight Forwarders Can Key Into AFCTA-NAGAF Academy Registrar
LAGOS FEBRUARY 20TH (NEWSRANGERS)-Registrar, NAGAFF Academy, Francis Omotosho explained how freight forwarders in Nigeria keyed into African Continental Free Trade Area (AfCFTA) and benefit from the trade concepts.
Omotosho while speaking on a round table chat organized by the Maritime Journalists Association Of Nigeria (MAJAN) titled, “Preparation Of Freight Forwarders To Key Into AFCTA Concept” held at Apapa, Lagos recently, disclosed that for freight forwarders to key into the framework and benefit equitably from the concept of the AfCFTA they need access to Information Communication Technology Facilities, adequate training and re-training, financial empowerment and rejuvenation of letter of credit original concept/Idea and multimodal transport system which has to do with integrated rail transport system across Africa.
The NAGAFF Registarar who explained that African Continental Free Trade Area (AfCFTA) as flagship project of the African Union’s Agenda 2063 and a blueprint for attaining inclusive and sustainable development across the continent over the next 50 years further pointed out that freight forwarders need adequate security measures, cashless payments systems, paperless port operation processes, One-Stop-Shop Port Clearance Operations (B2B, B2G, etc), Seamless Cargo Clearance Operation Across Africa, Integrated Single African Customs Platform (ECOWAS – ALISA), One Acceptable and Single African Trade Currency, 24 Hours Operations at Land Border Posts, Airports and Seaports (Timeless Operation), Tax-less Port Operations Charges (Reduction in Customs Tariff) and 24 Hours Bank Services Operations and Wide Network and Connectivity Across Africa.
The Maritime Guru explained that AFCTA is expected to enhance competitiveness at the industry and enterprise level through exploitation of opportunities for scale production, continental market access and better reallocation of resources, adding AfCFTA will eliminate tariffs on intra- businesses to trade within the continent and cater to and benefit from the growing African market.
According to him, “AfCFTA is to create a liberalized market for goods and services through successive rounds of negotiation, lay the foundation for the establishment of a continental customs union.to eliminate the competitiveness of the members’ economies and produce industrial development through diversification and regional value chain development, agricultural development and food security, to contribute to the movement of capital and persons and facilitate investment and it will to be the world’s largest free trade area since the formation of the World Trade Organization.
AfCFTA, according to him, is to consolidate Africa into one trade area provides great opportunities for entrepreneurs, businesses and consumers across the continent and chance to support sustainable development in the world’s least developed region.
“In the long run, AfCFTA will help promote and attain sustainable and inclusive socio-economic development, gender equality and structural transformation across the continent.
“AfCFTA is to boost intra-African trade by providing a comprehensive and mutually beneficial trade agreement among the member states, covering trade in goods and services, investment, intellectual property rights and competition policy,” he stated.
He disclosed that NAGAFF Academy have already prepared and concluded arrangement to take their students out on study visits to all the African Union Member States; to enable them see the potentials and opportunities available in all these Africa countries and cut a niche for themselves as Nigerians and connect with traders, logistics services providers and freight forwarders counterparts or partners; since we have all agreed to trade amongst ourselves in Africa without barriers, limitation, and with tariff free trade transactions.
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Posted by News Rangers
on Feb 20 2021. Filed under Business, National.
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