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By Providence Emmanuel
A Debate on whether or not Nigeria joins the African Continental Free Trade Agreement (AfCFTA) is raging, a former Director General of the Nigerian Association of Chambers of Commerce, Industry, Mining and Agriculture (NACCIMA), Dr. John Isemede, said that the country has not currently the ability to compete favorably if agreement is adopted now
. Roundtable on "Business Environment: Maximizing Economic Opportunities Through the Effective Application of Anti-Illicit Trade", organized by Initiatives for Public Policy Analysis (IPPA) in Lagos, Isemede said that the organized private sector should be in the fore
He said: "The SPO can not be a minority in a committee created by the government. Put the FPO in the foreground, then we will know that we are in business, not two out of 20. There are so many mismatches with ALE, the inadequacy is we have not not the ability to compete.
I'm not saying that Nigeria should not sign the agreement, but it should be clear on what it brings to the table because South Africa and Morocco have already an advantage.
Meanwhile, Dr. Olajide Damilola, principal investigator at IPPA and the University of Aberdeen, described the illicit trade as the production and distribution of consumer goods that fail not to comply with the rules, laws and regulations in force in the industry / sector concerned and in a particular jurisdiction.
He noted that the illicit trade poses a threat to the global economy and would represent up to 15% of global GDP, reaching $ 12 trillion. 2014 according to World Economic Forum 2015.
He said: "The illicit trade is driven by a common set of factors around the world, divided into three main interrelated categories such as consumer preferences, business environment and regulatory framework. It is unlikely that illicit trade will ever be eliminated, but it can be protected against It can not be a single policy framework to solve the problem of illegal trade A case-by-case approach targeting specific products will be more effective A holistic approach is required, which may require a strategy beyond the jurisdiction of a country. "
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