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Eye Opener: Working African Global Trade Wars to its Advantage
Africa can work Global Trade Wars to its advantage by asserting independence and better negotiating the value of its resources
Global Trade wars are roiling economies and international relationships in 2018 like never before. by A south African Insider
CAPTION: African Global Trade Wars – A second-hand clothing market in Kigali losing out in Rwanda’s second-hand clothes war, as the government hikes import duties on US used clothes. Image Courtesy of Alamy
In the long term, African nations can come out ahead if they prioritise inter-African trade and carefully select foreign trade partners. African nations with important commodities to sell, from Mozambique’s natural gas and Nigeria’s oil to the Democratic Republic of Congo’s minerals and South Africa’s abalone shellfish, have never been in a better position to play one foreign trade partner off another. This is particularly true when it comes to realigning East versus West relations based on trade issues.
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Global Trade wars seek to undercut African economic advancement
However, there is a more sinister aspect to the current global trade wars, which were launched by the United States under the Trump administration with a round of tariffs aimed at adversaries such as China, as well as allies like Canada. While it is true that China has a lopsided balance of trade with the US, the American economy had been thriving under the former system.
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US companies depend on Chinese-made components, and American consumers enjoy low-cost Chinese products. In light of the latest US tariffs imposed on Chinese goods, valued at US$ 200 billion, economists wondered why the heavy-handed approach of ever-increasing tariffs was necessary while negotiations may possibly be carried out to address the balance of trade issues.
The reason is not good economics but US politics. Anti-foreign sentiments have been stirred up by the US President, who uses foreign trade as a sub-theme. There is also an overtly aggressive element to this: Washington imposing its economic might because it can. In other words, bullying.
To China, there is another sinister motive involved, and this one impacts all US trade partners, including Africa. Beijing believes that the US is using trade war in a way very much like real war, to attack a foreign rival and undercut its economy. China feels the US wishes to reverse China’s impressive economic gains, lessening its competitiveness as a global trade partner, and undercutting its rise as an economic powerhouse.
Global Trade Wars – China is rising as a global economic powerhouse, expanding its share of global trade faster than any of the other rising powers in 30 years of ascent. Image Courtesy of FP
This concern might also be held by African countries. With the US economy booming, there is no need to strong-arm impoverished African countries on trade issues, making demands, setting ultimatums and imposing sanctions instead of talking things through. However, Mr Trump is not a statesman but a businessman, who sees business as a zero-sum game in which other countries gain only at the US’ expense.
Consequently, he is baffled by the need for the African Growth and Opportunity Act (AGOA) because it allows qualifying African countries tax-free and quota-free access to the American market. Meanwhile, US products are still taxed when imported into Africa. Mr Trump finds this ‘unfair’, fundamentally misunderstanding the goal of AGOA. This trade initiative is intended to give African economies a boost so that they will become robust and eventually become better customers for US goods, while also becoming more stable and secure through their stronger economies. AGOA provides trade giveaways for the US’ long-term benefit.
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… To be Awarded with Post-Mortem Promotion to Comptroller of Customs
By Abra Iruoghene
The Nigeria Customs Service and the National Hospital held a Service of Songs for the Late Deputy Comptroller of Customs in charge of Revenue Etop Andrew Essien, who passed on on June 25 2024, at the National Assembly while making a presentation before the House Committee on Public Accounts.
The Comptroller-General of Customs, Adewale Adeniyi, while speaking at the event on 23 July 2024, noted he was out of the country when he heard the sad news of Essien’s demise. He said he was greatly bereaved to lose such a professional who was an epitome of excellence.
Describing DC Essien, Adeniyi said he was someone who took on every assignment and gave the best he had. “He was always prepared with facts and figures to defend the NCS”, he added.
Adeniyi said, “If money could bring him back, the Nigeria Customs Service would have done all they could to bring him back to life. The NCS will live up to those values he died for, which are Professionalism and Sincerity. ”
Still speaking, he said, “The NCS will give the late DC a burial of heroes. A meeting has been held on his behalf, and a proposal will be submitted to the Customs Board for a post-mortem promotion to the rank of Comptroller of Customs. Also, the children are now my friends. They are the children of heroes and will be treated as such. ”
He further encouraged officers to serve wholeheartedly with discipline and professionalism. Stating those who sacrifice their lives in the Nigeria Customs Service will not sacrifice in vain but will be remembered forever.
… Urges TCIP Officers to Adhere Strictly to Established Procedures
By Ibe Wada
The Zonal Coordinator of Zone A, Assistant Comptroller General of Customs (ACG) Saidu Yusuf, has emphasised the critical importance of intensifying cargo examination at Tincan Island Port to enhance national safety.
During his working visit to the command on Wednesday, 24 July 2024, Yusuf highlighted the necessity of rigorous checks to prevent the entry of expired products and illicit drugs into the country.
“We need to intensify our examination of cargo, as this is a main exercise for the Nigeria Customs Service. There is a need for thorough inspections at every stage, using the various parameters and tools provided by the service,” Yusuf stated.
“We also face issues with illicit and expired products. Beyond revenue collection, our role is to protect the lives and safety of the nation. Failure to do so could result in us becoming victims, directly or indirectly’’. He emphasised.
The ACG stressed that customs officers must adhere strictly to established procedures to ensure accountability and efficiency. “We must be diligent in all that we do to justify the actions required of us. I urge everyone not to relent in following the laid-down procedures. The Tincan Island command, under the leadership of Comptroller Dera Nnadi, has demonstrated efficiency, particularly in intercepting and seizing illicit drugs, arms, and ammunition”.
Yusuf also praised the implementation of new trade facilitation tools, including the Time Release Study and the Advance Ruling System, which have been introduced to enhance operational efficiency.
Acknowledging the ongoing efforts of the Customs Area Controller (CAC), he commended the team for their hard work under his leadership. He called for increased vigilance, especially in light of recent security challenges and rising smuggling activities.
In his address, Comptroller Dera Nnadi explained that the command is committed to its statutory obligations, which include revenue generation, trade facilitation, and securing the nations border.
“We have been creating an enabling environment for stakeholders engaged in legitimate trade, and we declared this year as the year of stakeholders in the command”, he said.
Nnadi reported that as of 24 July 2024, the command had collected six hundred and sixty-nine billion, five hundred and sixty-one million, nine hundred and forty-seven thousand naira (N669,562,947,000) and affirmed that the command remains focused on its revenue target for the year.
He also highlighted challenges, particularly regarding office infrastructure, and stressed the need for renovation.
The CAC appreciated the Zonal Coordinator for taking the time to visit the command and offer valuable advice to the officers.
…Reassures of Command’s Operational Efficiency
By Vivian Daniel
The Customs Area Controller (CAC) of the PH Oil and Gas Free Trade Zone (FTZ) Command, Onne, Rivers State, Comptroller Usman Seriki, on Monday, 22 July 2024, paid a courtesy call to the Managing Director (MD) and Chief Executive Officer (CEO) of the Oil and Gas FTZ Authority, Bamanga Jada, in his office at Mable House, Onne, Rivers State, to consolidate relations with the officials.
This was contained in a press statement signed on Tuesday, 23 July 2024, by the Command Public Relations Officer, Assistant Superintendent of Customs II, Paul Gimba, on behalf of the Customs Area Controller.
According to the statement, this aligns with the policy thrust of the Comptroller-General of Customs, Adewale Adeniyi, to collaborate with stakeholders for efficiency in revenue drive, suppression of smuggling, and facilitation of legitimate trade.
The CAC assured the MD of upholding and improving the established relationship between both organisations regarding trade facilitation and supervising compliance in the Free Zone.
“This relationship is significant because it will enhance operational efficiency, trade facilitation, and regulatory compliance in the Oil and Gas Free Zone,” he re-emphasized.
The MD appreciated the CAC and the Service for contributing to the many success stories of the Free Trade Zone. He added that “this cooperation can further contribute to overall economic growth by boosting trade volume, creating a more efficient and attractive business environment in Nigeria’s Oil and Gas Zone.”
The General Manager of Operations, Oil and Gas Free Zone Authority, Adekunle Ajayi, recognised that the harmony between the two agencies has diminished bureaucratic bottlenecks and ensured seamless processes in the environment.
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