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Wednesday, 28 October 2015

EU: Nigeria’s Economic Policies Violating ECOWAS Laws

At the fourth EU-Nigeria Business Forum with the theme: ‘Unlocking Opportunities for Diversification,’ the EU Ambassador and Head of EU delegation to Nigeria and ECOWAS, Michel Arrion, stated that many of  Nigeria’s policies in operation contradict the basic rules of the Economic Community of West African States (ECOWAS).  The EU envoy explained Nigeria’s disregard for ECOWAS rules and how business as usual continues with disregard for the new Common External Tariff (CET) enforced by ECOWAS. Arrion underlined, “Nigeria is maintaining import bans against ECOWAS. You can do this outside ECOWAS but not within.

You are part of the same community and bound by some rules relating to free movement of goods and people. We have no offensive agenda for Nigeria because we believe that Nigeria and ECOWAS are very important places where European or other non-European businesses could invest because there is enough room for investment.” Arrion assured Nigeria that the EU would not invade the West African market and added that the EU has removed all its export subsidies to the West African market. Additionally, the EU has committed to provide a minimum of €6.5 billion of trade development assistance every five years until 2035.

Source: thisdaylive.com