There are two facts about Africa’s place in international trade that worry experts. The first is the abysmally low level of participation despite abundant resources – just two per cent. The other is the low level of trade among African countries, a paltry 17 per cent.
He said: “The transportation sector is the most critical in implementing trade facilitation, enhancing regional integration and key to every other AfCFTA protocol. Hence, the Nigerian government has embarked on huge transport infrastructure investment across the country to ensure efficiency in the transportation sector.
One of the critical issues that dominated discussion during the two-day conference organised by the Nigeria Institute of Transport Technology in collaboration with the Federal Ministry of Transportation was the importance of a Single-Window system as an instrument to facilitate trade in Africa. The World Economic Forum 2014 noted that an “increase in trade, especially exports, is presumed to increase the earning of valuable foreign exchange, create more job opportunities and widen the international market. It reduces distance within and between regions. Well-developed infrastructure not only reduces the distance between regions but also integrates regional markets and connects them at low costs to other economies.
He recommended, for instance, that the African Central Bank, the African Development Bank , and other critical institutions must be under the supervision or association of AfCFTA. Such an arrangement, according to him, would eventually lead to the establishment of a Single Window System for the continent or its sub-regions.
Various countries and organisations may operate a Single Window System for different purposes. For instance, there is a Single Window for foreign trade formalities, that is, administrative formalities and processes . Another Single Window is exclusively for logistics in the ports, focused on the processes from vessel arrival until delivery to consignees. This is also called Cargo Community System or Port Community System. There is also the National Single Window.
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