Nigerian exporters eye UK, USA markets
Nigerian trade groups and export-promoting agencies are collaborating on a new collective approach to further open up the advanced markets of the United Kingdom (UK) and United States of America (USA) to Nigerian non-oil exports.
The Nigerian-British Chamber of Commerce (NBCC), Nigerian-American Chamber of Commerce (NACC), Nigerian Export Promotion Council and Nigerian Investment Promotion Council (NIPC) are leading Nigerian exporters and other Nigerian and international stakeholders in the quest for international markets for Nigerian non-oil exports.
The NBCC will next month lead a delegation of Nigerian exporters to London to explore partnership opportunities and showcase Nigerian non-oil exports.
The UK trade mission, which includes private and public sector operators, will include discussions between the NBCC and London Chamber of Commerce and Industry (LCCI) and other stakeholders on how to smoothen the process of Nigerian non-oil exports to UK.
The UK export trade mission comes at the same time that the ban placed on export of Nigeria-originated beans to European Union (EU) countries lapses. The EU had in June 2015 slammed a one-year ban on dried beans from Nigeria over poor storage and preservation practice. The Nigeria Agricultural Quarantine Service (NAQS) has assured that the EU concerns have been addressed and the ban may be lifted next month.
The NACC will this weekend lead a major discussion by major stakeholders including the US Embassy in Nigeria, West African Trade and Investment Hub of United States Agency for International Development (USAID), Nigerian Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) among others on how to facilitate Nigerian exports under the African Growth and Opportunities Act (AGOA).
The discussion will include the entire chain of the export process from health regulatory compliance to packaging and financing among others.
AGOA seeks to promote economic growth, trade, and investment in Sub-Saharan Africa by providing duty-free access to the US market for some 7,000 qualifying African products until September 30, 2025.AGOA also provides duty-free access to all clothing as well as certain textile exports from countries that qualify under the Act’s ‘wearing apparel provisions’.
AGOA product eligibility implies that a product, when produced in an AGOA beneficiary country, may enter the United States free of import duty. Products must, however, comply with the relevant local processing (Rules of Origin) as well as customs requirements.
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