THE European Union has sought improved trade with Nigeria and other West African countries under a regional framework, stating that the country stands to be the greatest beneficiary of an integrated West African market. According to the EU, the regional integration of the Union is the most accomplished example of regional integration at work, a move it has tasked Nigeria to embrace within the West African region, in a bid to improve competitiveness and economic growth.

Indeed, Nigeria had rejected the Union’s Economic Partnership Agreement (EPA) on the grounds that the agreement remains unfavourable to the country and the region in its present form. Speaking ahead of its yearly European Union-Nigeria Business Forum in Lagos, Head of EU Delegation to Nigeria and ECOWAS, Ambassador Michel Arrion, stated that this year’s forum will focus on the common EU/Nigeria economic agenda and the role private sector can play in supporting it. He added that the Forum, within this framework, will also act as platform for private sector participants to identify business opportunities and connect with key players.

Emphasising the need for a strengthened relationship, Arrion said: “Though Nigeria maintains a positive trade balance with the EU and the EU remains the biggest market for both oil and non-oil exports (such as leather cocoa, sesame, etc.), it is imperative to address the EU- Nigeria relationship towards a more diversified composition and a strengthened ECOWAS regional market.

“The European Union is the most accomplished example of regional integration at work. Integration has led to competitiveness within the Union, removal of obstacles to free movement of goods, services and people and led to greater prosperity for EU citizens. Nigeria is the largest economy in Africa and the industrial hub of West Africa.

“Nigeria must see the West African market as an extension of its domestic economy because Nigeria stands to be the greatest beneficiary of an integrated West African market. This is what the EPA seeks to achieve; consolidation of the regional markets, promotion of regional trade, removal of barriers to trade while protecting sectors that are considered sensitive to the economies of the ECOWAS member states.

“We must understand that it is not a bilateral but a regional issue and Nigeria must seize the leadership role and drive this integration”.

Furthermore, Arrion commended ECOWAS Heads of States for the signing of the treaty on the Lagos-Abidjan corridor. He said: “As we know, 70 per cent of the commercial traffic in the region takes place within this corridor. The signing of this treaty marks a significant milestone towards fostering true regional integration in West Africa.

“Through our development cooperation, the EU is working closely with the Nigerian authorities to improve its business environment and competitiveness, boosting its industrial revolution agenda through support to the reform of the electricity sector and accessing long term financing and tackling social issues like malnutrition.

“This is what informed the selection of the panel discussions which will be taking place on Business Climate, Electricity, Health and Nutrition and Access to Finance. The objective is to find a meeting point for the private sector to leverage on the grants provided by the EU to these sectors”.

Source: http://www.ngrguardiannews.com/business/180471-european-union-scripts-new-trade-promotion-deal-with-nigeria-others

IF THEY ARE SO INTERESTED IN THE RISE OF NIGERIA, THEY SHOULD EXTEND THE INTEGRATION BEYOND THE ECONOMY. THEY SHOULD SUPPLY ARMS FOR US TO USE AND FIGHT BOKO HARAM. THEY SHOULD START A FREE VISA REGIME FOR NIGERIANS. THEY ARE BLOCKING NIGERIANS FROM TAKING ADVANTAGE OF THEM, BUT THEY WANT TO PENETRATE OUR ECONOMY, MONOPOLIZE IT, REPATRIATE FUNDS BACK TO THEIR COUNTRIES AND KICK US INTO OBLIVION BEFORE MOCKING US FOR OUR STUPIDITY .

You said the truth.

What can EU with all the troubles bedeviling them offer ECOWAS. Case of feeding ego

Yorubas must stand up and be counted. We have left the western corridor and borders in our region to be bastardised by our unruly Eastern brothers and it is time to pick up the gauntlet and manage the impending trade for our benefit.

Nigeria's economy is as open for "penetration" like a hoe's legs in a brothel!! All you gotta to is "pay" and you get a fix. You don't need to "look for how to" do that.

ibedun: Yorubas must stand up and be counted. We have left the western corridor and borders in our region to be bastardised by our unruly Eastern brothers and it is time to pick up the gauntlet and manage the impending trade for our benefit.

I did not know the European Union= Igbo.

Which emu you dey drink? It must be so sweet to make you this mad. Pele