Nigeria has ratified the Trade Facilitation Agreement (TFA), this makes her the 107th World Trade Organisation (WTO) member to endorse the agreement, the Ministry of Industry, Trade and Investment, Dr. Okechukwu Enelamah, has said.
The minister’s Strategic Communications Adviser, Constance Ikokwu, in a statement in Lagos, said Enelamah submitted Nigeria’s instrument of acceptance to WTO Director-General Mr. Roberto Azevdo at the just-concluded World Economic Forum (WEF) in Davos, Switzerland. According to the statement, only three more ratifications from members are needed to achieve the two-third threshold that will bring the TFA into force.
“Nigeria’s ratification of the TFA is a reflection of our commitment to the WTO and a rules-based economy. “It is evidence of President Muhammadu Buhari’s commitment to rapidly implement his presidential initiative on the creation of an enabling environment for business. Nigeria would like to see a strengthened WTO that reflects the development principles of developing countries like Nigeria and we praise the effectiveness of Azevdo in this regard,” Enelamah said.