Nigeria gets anti-dumping relief from WTO — Minister

Dead local industries may come to life again as the Federal Government  has secured some measures from the World Trade Organisation (WTO) to  combat dumping.

Minister of Industry, Trade and Investment, Dr. Okechukwu  Enelamah  disclosed to newsmen in Lagos that efforts are underway to revitalize  local industries and discourage dumping, which has killed local  production.

He said, “One of my first official outings as minister was to  represent Nigeria at the World Trade Organisation Ministerial  Conference in Nairobi, Kenya; and discuss Nigeria’s place in the  global multilateral trading system.

“One of the areas we addressed is dumping and I am happy that we got  some relief, anti-dumping relief that we are going to use to promote  local industries. Also, on one of our recent trips to the United Arab  Emirates, I was privileged to sign, on behalf of Nigeria, an important  bilateral agreement on Trade Promotion and Protection.”

He said the influx of finished goods from Europe and Asian countries  into the Nigerian market is killing the nation’s local industries and  hampering its bid for industrialisation.

“We are in the era of globalisation as people like to call it, and  what it means is that people are constantly trying to sell their  goods, so we have a particular responsibility to ourselves to make  sure that the goods that are coming here do not result to dumping.

“We are competing with the treasuries of the developed world where  they are in effect subsidising goods that are coming into countries in  the developing world and hampering industrialisation,” he said.

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