The political economy of enhancing trade facilitation in Nigeria



Chukwuemeka Uwanaka | The Cable News

The phrase, ‘‘he who controls the trade, controls the world economy’’, has till this day remained true. The international trading position of every country determines to a large extent, the economic and political strength of every country. Political and economic strength is as such normally displayed in trading patterns. Countries therefore aspire to have positive balance of trade terms, as a measure of their development objectives.

Achieving such noble economic and political objectives require trade facilitation- which means that interested countries plan and implement policies and measures that make it easier for trading activities; especially trade across borders, to be as effective and efficient as possible. The World Trade Organization (WTO) defines trade facilitation as “the simplification, modernization and harmonization of export and import processes”.

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