In recent developments, both the World Trade Organization (WTO) and the International Trade Centre (ITC) have embarked on collaborative efforts aimed at bolstering Nigerian agribusinesses. These initiatives focus on enhancing food safety standards, increasing in-country value addition, and promoting digital trade. Here’s a comprehensive overview of the key highlights from both organizations:
Project Launch and Funding:
Under the leadership of the Federal Ministry of Industry, Trade and Investment of Nigeria, a project valued at $1.2 million has been initiated. This project, named ‘Improving SPS Compliance to Boost Export Capacity of Nigeria,’ receives funding from the Standards and Trade Development Facility (STDF) and engages in a joint effort with the International Trade Centre (ITC), World Trade Organization (WTO), and private sector stakeholders.
Impact on Nigerian Agribusinesses:
This project targets Nigerian agribusinesses, particularly those in the cowpeas and sesame seeds value chains, aiming to enhance their food safety standards and increase in-country value addition. With Nigeria being Africa’s most populous economy, the project’s outcomes have regional and global implications, aligning with Sustainable Development Goals and the African Union’s Agenda 2063.
Objectives and Strategies:
The project strives to build stakeholders’ capacities across the sesame and cowpeas value chains, focusing on understanding market access requirements and improving agricultural practices. Strategies include enhancing pesticide application, hygiene techniques, harvest, post-harvest methods, and food safety standards.
Financial Allocation and Strategy:
The initial investment of $1.2 million, with nearly a million coming from STDF, highlights the project’s low expenditure and high impact. Emphasis is placed on training local food safety advisers to ensure sustainable compliance with international standards. Dr Ngozi Okonjo-Iweala, the Director-General of the WTO, emphasized the significance of the project in improving Nigeria’s agricultural sector and addressing trade-related challenges.
Role of Small Businesses:
Small businesses, constituting eight in 10 jobs in Nigeria, particularly in the agribusiness sector, play a pivotal role in supporting sustainable economic development. The project seeks to equip these businesses with the necessary knowledge and resources to comply with food safety standards and access new markets.
Upcoming Initiatives and Collaborations:
In addition to the primary project, there are several forthcoming initiatives aimed at advancing trade and economic development in Nigeria. These include a joint initiative between the World Trade Organization (WTO) and the World Bank focused on digital trade in Africa. Furthermore, there are plans for initiatives such as Cotton Development Assistance and workshops facilitated by the WTO addressing various trade-related aspects. Additionally, there are efforts like the Women Exporters in the Digital Economy Fund, which aims to empower female entrepreneurs in Nigeria, underscoring a broader commitment to fostering inclusive economic growth.
ITC’s Existing Initiatives in Nigeria:
The International Trade Centre (ITC) is actively involved in ongoing initiatives within Nigeria. Notably, there is a project funded by Japan supporting processed food producers in Imo State. Additionally, the SheTrades program, implemented by ITC, is dedicated to empowering women entrepreneurs by facilitating their access to new markets and opportunities.
The collaborative efforts between WTO and ITC aim to enhance food safety standards, increase value addition, and promote digital trade in Nigerian agribusinesses, ultimately contributing to sustainable economic development in Nigeria and the broader region.
Source: ITC News (https://intracen.org/news-and-events/news/wto-itc-support-nigerian-businesses)