Ms Cristina Modoran, the European Commission’s
Trade Affairs Manager to West Africa, on Wednesday said that for more Nigerian products to get into the European markets, more value should be added to them.

Modoran disclosed this to the News Agency of Nigeria (NAN) in Lagos on the sidelines of this year’s first Breakfast Meeting, organised by the Nigerian-Belgian Chamber of Commerce and the Belgian Documentation and
Information Centre.

The EU official also said that it was imperative for Nigeria to sign the Economic Partnership Agreements (EPA) to stop duties currently being paid on Nigerian products exported to the EU countries.

“Europe is a big market that imports a lot of processed agricultural products. There are lots of opportunities for Nigerians in the business of exporting the required products to our countries.

“We would really wish to see more value addition to Nigerian
agricultural products before they are exported to the European countries.

“We also really wish to encourage Nigeria to sign the EPA. We strongly believe that signing the EPA is the future for Nigerian companies,’’ she said.

Modoran said that according to a World Bank report, the EPA would increase the operations profitability of Nigerian companies by 62 per cent, if signed.

The EU Trade Affairs Manager said that the EPA had a lot of benefits for Nigeria, including the establishment of a more stable environment for investment.

Modoran, therefore, advised the Nigerian government to urgently take advantage of the benefits of the EPA provisions to promote its ongoing economic diversification drive.

“The EPA also supports economic diversification and that should really be the priority for the new administration in Nigeria.

“The government needs to know that the EPA liberalises inputs in order to develop manufacturing companies in Nigeria

“In the current competition for investment globally, the EPA is something that should be taken seriously by Nigeria, to attract more Foreign Direct Investment,’’ she added.

Economic Partnership Agreements (EPA) are a scheme to create a free trade area (FTA) between the European Union and the African, Caribbean and Pacific Group of States (ACP).

(NAN)