By Dipo Olowookere
The Federal Executive Council (FEC) yesterday approved the establishment of the trade negotiations office for Nigeria.
The office is to be headed by chief negotiator of ambassadorial rank, who will work with both the economic management team and the cabinet.
Minister of Trade and Investments, Mr Geoffrey Enelamah, who briefed newsmen of outcome of the weekly FEC meeting presided over on Wednesday by the Acting President, Mr Yemi Osinbajo, explained that the office was necessary to coordinate negotiations by government agencies in the country.
According to him, “Trade is something that is quite pervasive. We get involved in a lot of negotiations and a lot of MOUs assigned on trade.
“What we found was this was happening in various ministries and agencies and department with insufficient coordination and therefore consequently, it had unintended consequences and cost for us.”
He stated that, “There are a number of examples of these things that have happened so the cabinet decided that it is wise to establish a coordinating central office for trade negotiations.
“Some of the objectives of that office will be to help us to coordinate the various trade discussions and negotiations that will hold and to achieve coherence in our policies so that our policies will pull our trade together.”
Mr Enelamah stressed that, “As part of an offensive strategy of being proactive in engaging some of the discussions we are having on the continental free trade area agreement that we are negotiating or other free trade agreement that we have entered into with strategic partners all over the world.
“Then finally, it will also help us in the implementation of our economic recovery and growth plan because clearly, there is an intention to engage and work with other countries in that process.
“We also want to make sure that we have trade remedies against dumping, substandard goods and all the other things which is something that is allowed the world over.
“This office will also take responsibility to make sure that we achieve all these objectives.”
Adedapo Adesanya