LAGOS, Nigeria (VOICE OF NAIJA) – Nigeria is on course to establish the Standards Trade Development Facility (STDF) aimed at bolstering market access for the country’s agricultural and health exports.
This initiative set to bring together both government and private sector stakeholders, with the goal to receive technical assistance and capacity building support from the World Trade Organisation (WTO) and the International Trade Centre (ITC).
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In response to mounting concerns over repeated rejections of Nigerian agricultural exports, particularly by the EU, the country has formally requested the STDF and Capacity Building Support from the WTO.
Director-General of the WTO, Dr. Ngozi Okonjo-Iweala, emphasized the imperative of diversification during her recent visit to Abuja, underscoring the potential of exporting various goods related to trade, health, and agriculture.
Expressing her satisfaction with the initiative, Dr. Okonjo-Iweala remarked, “These challenging times call for strategic measures to diversify Nigeria’s economy through exports.
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It’s heartening to witness the alignment of efforts with the STDF program alongside the Ministry of Industry, Trade, and Investment to navigate through these economic challenges.”
Aligned with international sanitary and phytosanitary (SPS) criteria outlined in the WTO’s SPS Agreement, the STDF aims to support developing nations in adhering to stringent guidelines for animal, plant, and food health, critical for access to agri-food markets.
The primary objective is to establish enduring SPS capacity in emerging economies, promoting sustainable economic growth, combating poverty, and ensuring food security.
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The official launch of the STDF is scheduled later this week in Abuja, with Vice President Sen. Kashim Shettima, Honourable Minister of Industry, Trade and Investment Doris Nkiruka Uzoka-Anite, and other senior government officials expected to attend.