China’s Zero-Tariff Policy may deepen Nigeria’s trade imbalance — IBEKE
By Godwin Oritse International trade consultant and maritime expert, Okey IBEKE, has welcomed the reported increase in Nigeria’s exports to China under Beijing’s new zero-tariff policy but cautioned the Federal Government against judging the initiative by raw commodities export growth alone.
These should include domestic value addition, jobs created, growth in processing industries, the number of Nigerian companies entering Chinese supply chains, technology transfer and changes in the composition of Nigeria’s trade with China.
According to him, the African Continental Free Trade Area could complement the initiative by enabling Nigeria to develop regional supply chains, source raw materials from other African countries, process them locally and export higher-value products to China.
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