Nigeria’s participation is vital to the success of African
Continental Free Trade Agreement (AfCFTA), Prof Dimitri Sanga, Head, UN
Economic Commission for African (ECA), West Africa, has said.
Continental Free Trade Agreement (AfCFTA), Prof Dimitri Sanga, Head, UN
Economic Commission for African (ECA), West Africa, has said.
Sanga expressed the view in an interview with News Agency of
Nigeria (NAN) on the sideline of the ongoing 21st Session
of the Intergovernmental Committee of Experts (ICE) for West Africa in Cotonou
on Thursday.
Nigeria (NAN) on the sideline of the ongoing 21st Session
of the Intergovernmental Committee of Experts (ICE) for West Africa in Cotonou
on Thursday.
“Nigeria is not only a key country in ECOWAS but also a key
country in Africa and in the world.
country in Africa and in the world.
“So, not having Nigeria sign the African Continental Trade
Agreement is actually something that every African is worried about.
Agreement is actually something that every African is worried about.
“The fact that Nigeria does not sign today does not mean that
Nigeria will not sign tomorrow.
Nigeria will not sign tomorrow.
“We believe that Nigeria is looking at how it will affect its
economy and people. After they know this, we believe that they will come on
board,” he said.
economy and people. After they know this, we believe that they will come on
board,” he said.
Giving more reasons why Nigeria should sign, Sanga said it would
enable entrepreneurs in the country to have access to a market of over 1.2
billion people.
enable entrepreneurs in the country to have access to a market of over 1.2
billion people.
He also said the deal would give Africa one voice and a better
bargaining power when dealing with other countries in respect of trade.
bargaining power when dealing with other countries in respect of trade.
Sanga added that the deal would attract additional foreign
investments into the manufacturing sector, thereby creating avenue for better
job creation.
investments into the manufacturing sector, thereby creating avenue for better
job creation.
He said ECA had submitted a report to ICE on the implication of
admitting Morocco and Tunisia to the ECOWAS bloc.
admitting Morocco and Tunisia to the ECOWAS bloc.
“Let me be clear, our report does not state whether or not
ECOWAS should admit these North African countries.
ECOWAS should admit these North African countries.
“It only looks at trade issues that may arise, bearing in mind
that there may be legal issues, security, social, migration and economic issues
like trade, investment and so on.
that there may be legal issues, security, social, migration and economic issues
like trade, investment and so on.
“We only looked at trade issue which is a tip of the iceberg.
“Our study which is based on trade issues only, we looked at the
implications in terms of imports and exports from and outside ECOWAS and then
we looked at how it would look like if ever Morocco joins ECOWAS.
implications in terms of imports and exports from and outside ECOWAS and then
we looked at how it would look like if ever Morocco joins ECOWAS.
“This means that whichever countries that have trade agreement
with Morocco, will no longer be paying tariff.
with Morocco, will no longer be paying tariff.
“This is because Morocco will now be part of the Common External
Tariff enjoyed by ECOWAS members,” he said.
Tariff enjoyed by ECOWAS members,” he said.
Sanga said the ECA study looked at sector by sector gain and
found that there were areas where ECOWAS would have the upper hand and areas
where it would not.
found that there were areas where ECOWAS would have the upper hand and areas
where it would not.
He said that for instance, Morocco had a strong manufacturing
sector, and joining the ECOWAS bloc would give it access to a market of about
350 million people.
sector, and joining the ECOWAS bloc would give it access to a market of about
350 million people.
“For Morocco it’s a plus, especially for its entrepreneurs, who
deal in agribusiness.
deal in agribusiness.
“ECOWAS countries have comparative advantage in agriculture and
extractive industry so they will find a ready market in Morocco as well,” he
said.
extractive industry so they will find a ready market in Morocco as well,” he
said.
The 21st session of ICE21 for West Africa is taking place in
Cotonou from June 27 to June 29 with the theme, ‘Regional integration in West
Africa: New challenges and prospects”.
Cotonou from June 27 to June 29 with the theme, ‘Regional integration in West
Africa: New challenges and prospects”.
Morocco formally expressed its desire to join the West African
bloc in February 2017, citing strong, age-long ties with the sub-region as the
rationale for its decision.
bloc in February 2017, citing strong, age-long ties with the sub-region as the
rationale for its decision.
Tunisia also applied to become a full member of the bloc in
August 2017.
August 2017.
Meanwhile, Mauritania, a founding member of ECOWAS, which left
in 2000 to join the Arab Maghreb union, has applied for re-admission to the
bloc.
in 2000 to join the Arab Maghreb union, has applied for re-admission to the
bloc.
The ECA, as a think-tank, found it appropriate to examine the
potential economic implications related to an eventual admission of Morocco, Tunisia
and Mauritania to ECOWAS.
potential economic implications related to an eventual admission of Morocco, Tunisia
and Mauritania to ECOWAS.
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