{"id":806,"date":"2018-06-20T10:30:00","date_gmt":"2018-06-20T10:30:00","guid":{"rendered":"http:\/\/thefreezoneblog.com\/blog\/2018\/06\/20\/lcci-seeks-activation-of-safeguard\/"},"modified":"2018-06-20T10:30:00","modified_gmt":"2018-06-20T10:30:00","slug":"lcci-seeks-activation-of-safeguard","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/lcci-seeks-activation-of-safeguard\/","title":{"rendered":"LCCI Seeks Activation of Safeguard Measures for AfCFTA Implementation"},"content":{"rendered":"<table align=\"center\" cellpadding=\"0\" cellspacing=\"0\" class=\"tr-caption-container\" style=\"margin-left: auto; margin-right: auto; text-align: center;\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\"><a href=\"https:\/\/3.bp.blogspot.com\/-3J6P7XDChro\/WyoskhGCv9I\/AAAAAAAABXA\/TrhEiNN6rDkhh8z6lN2Z9AqyDwAiswxkgCLcBGAs\/s1600\/Lagos-Seaport.jpg\" imageanchor=\"1\" style=\"margin-left: auto; margin-right: auto;\"><img loading=\"lazy\" decoding=\"async\" border=\"0\" data-original-height=\"720\" data-original-width=\"1280\" height=\"360\" src=\"http:\/\/thefreezoneblog.com\/blog\/wp-content\/uploads\/2018\/06\/Lagos-Seaport.jpg\" width=\"640\" \/><\/a><\/td>\n<\/tr>\n<tr>\n<td class=\"tr-caption\" style=\"text-align: center;\">Lagos Sea Ports<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nThough the opportunities in African Continental Free Trade Agreement<br \/>\n(AfCFTA) outweigh the drawbacks, the Lagos Chamber of Commerce and<br \/>\nIndustry (LCCI) has advocated necessary safeguards, systems, soft and<br \/>\nhard infrastructures including viable ICT policies must be activated to<br \/>\nmaximize the potential benefits.<\/div>\n<div style=\"text-align: justify;\">\nSpecifically, the LCCI urged the government to maximise benefits<br \/>\naccruable from consumers and market right of access to multiple and<br \/>\ndiversified products and services and seek protection against abusive<br \/>\nand injurious parties in and outside Nigeria based on ongoing capacity<br \/>\nexpansion of trade laws.<\/div>\n<div style=\"text-align: justify;\">\nAccording to a communiqu\u00e9 issued at the end of a stakeholders\u2019 forum<br \/>\non the AfCFTA held in Lagos, recently, the LCCI noted that the main<br \/>\nargument against the signing of the AfCFTA was stakeholders\u2019 fear of<br \/>\nnumerous bilateral trade agreements of some AU countries with the rest<br \/>\nof the world and Nigeria\u2019s underdeveloped industrial and infrastructural<br \/>\n profile.<\/div>\n<div style=\"text-align: justify;\">\nStakeholders argued that there was apprehension because it was<br \/>\nbelieved that the agreement will potentially make Nigeria a dumping<br \/>\nground due to its uncompetitive manufacturing sector, large market size<br \/>\nand population.<\/div>\n<div style=\"text-align: justify;\">\nOther concerns also bordered on the prevailing disconnect between<br \/>\nregulatory agencies and policy inconsistencies among countries on the<br \/>\ncontinent, and lack of data on trade within the continent and likely<br \/>\nnegative effect of poor statistics on the implementation of AfCFTA.<\/div>\n<div style=\"text-align: justify;\">\nTo address some of these challenges, the stakeholders called for<br \/>\npolicy coherence and the reinforcement of interconnectivity between<br \/>\nagencies to protect consumers and the Nigerian economy, as well as,<br \/>\nenhance interface between, trade, investment and governance.<\/div>\n<div style=\"text-align: justify;\">\nIt was noted that for trade to be effective and benefit from the<br \/>\nAfCFTA existing trade focused bodies such as the Nigerian Diaspora<br \/>\nDirect Investment Summit, National Trade Consultative Committee and the<br \/>\nNigerian Industrial Policy and Competitiveness Advisory Council should<br \/>\nbe bolstered, with trade and infrastructure interconnected.<\/div>\n<div style=\"text-align: justify;\">\n\u201cThe LCCI commits to working with the Director General\/Chief<br \/>\nNegotiator, Nigerian Office for Trade Negotiation (NOTN), Ambassador<br \/>\nChiedu Osakwe and take leadership in developing appropriate messaging on<br \/>\n policy advocacy on consumer protection to sharpen standardization<br \/>\nprocess.<\/div>\n<div style=\"text-align: justify;\">\n\u201cNOTN should initiate a standalone Consultation Committee to oversee<br \/>\nroutine stakeholders engagement and also clearly articulate all the<br \/>\ninherent risks in the agreement with proposed mitigating measures<br \/>\navailable for consumers and business for clarity.<\/div>\n<div style=\"text-align: justify;\">\n\u201cData assessment should be a permanent and continuous process helpful<br \/>\n to the deployment of effective mechanism, trade policy, monitoring and<br \/>\ncoordinating.\u201d<\/div>\n<div style=\"text-align: justify;\">\n\u201cThere should be a robust framework for continuous consultation and<br \/>\nfeedback on the agreement and this should be strengthened to accommodate<br \/>\n an extensive media campaign process to forestall further disconnect<br \/>\nwith relevant stakeholders\u201d, the communiqu\u00e9 read in part.<\/div>\n<div style=\"text-align: justify;\">\nculled:footprint2africa<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Lagos Sea Ports Though the opportunities in African Continental Free Trade Agreement (AfCFTA) outweigh the drawbacks, the Lagos Chamber of Commerce and Industry (LCCI) has advocated necessary safeguards, systems, soft and hard infrastructures including viable ICT policies must be activated to maximize the potential benefits. Specifically, the LCCI urged the government to maximise benefits accruable [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[124],"class_list":["post-806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-trade-industry","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LCCI Seeks Activation of Safeguard Measures for AfCFTA Implementation - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/lcci-seeks-activation-of-safeguard\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LCCI Seeks Activation of Safeguard Measures for AfCFTA Implementation - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Lagos Sea Ports Though the opportunities in African Continental Free Trade Agreement (AfCFTA) outweigh the drawbacks, the Lagos Chamber of Commerce and Industry (LCCI) has advocated necessary safeguards, systems, soft and hard infrastructures including viable ICT policies must be activated to maximize the potential benefits. 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