Nigeria needs to do a lot in the area of trade facilitation if it must key into the agreement recently reached at the just concluded World Trade organization meeting in Bali, Indonesia. 

These are the views of two international trade analysts Mr. Obiora Madu, who is an Export Consultant and the president, National Association of Nigerian Traders, Mr. Ken Okaoha, who were guests on Channels Television’s programme, Business Morning.

They advised that Nigeria should begin to look inward before seeking for help outside.

According to them, dumping of substandard products should not be an excuse for not supporting trade liberalization. The stressed the need for the Nigerian government to build capacity to encourage competition.

The World Trade Organization recently in Bali Indonesia reached its first ever trade reform deal which would lower trade barriers and speed up the passage of goods through customs. This deal has the potential to add one trillion dollar to the global economy.

Analysts estimate that over time it could boost the world economy by hundreds of billions of dollars and create more than 20 million jobs, mostly in developing countries.

The three main packages in the deal include; trade facilitation (streamline customs procedures and minimize unnecessary border delays, delivering jobs and opportunities in times of unemployment), agriculture and development issues which apply mainly to least developed countries.