Nigeria: ECOWAS Common External Tariff launched

Abuja, Nigeria (PANA) - The ECOWAS Common External Tariff (CET), one of the key integration objectives of the 15-member regional body, was finally launched in Abuja Monday.

ECOWAS Commission President Kadre Desire Ouedraogo officially launched the CET, on the sidelines of the ongoing 46th Ordinary Session of the Authority of ECOWAS heads of state and government in the Nigerian capital.

He said the launch was the culmination of nine years of ''sustained work, dialogue, consultations and intra-community negotiations''.

The Commission President said CET, which is due to take off 1 Jan. 2015, would promote industrialisation, boost exports and protect nascent industries.

The launch followed the endorsement of the CET by regional leaders who met in Dakar, Senegal, Oct. 2013.

PANA reports that CET, basic feature of the Customs Union as a form of economic integration, entails all ECOWAS member countries abandoning their individual tariff structure with which they trade with other countries and adopting a common external tariff in trade with third countries.

After the formal launch of the CET, President Ouedraogo presented copies of the CET document to heads of state/government or their representatives at the summit, to intermittent applause from those present.
-0- PANA SEG/VAO 15Dec2014

15 december 2014 14:35:16




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