Eromosele Abiodun writes that Nigeria is reticent to commit to trade facilitation in multilateral negotiations because improving an inefficient customs system may place multiple demands on limited resources. But on the contrary, trade facilitation has many benefits
The gradual growth in trade volumes and intricacy in recent years have significantly changed the operating environment for the international trading community. Also, they have highlighted the negative impact of inefficient border procedures on governments, businesses and ultimately on the customer and the economy as a whole. Porous borders help to fuel smuggling, fraud and national security problems, which drain the public coffers, while businesses pay the price of slow and unpredictable goods delivery, costly customs procedures, and even lost business opportunities. And all these costs, experts believe, ultimately make goods more expensive for the consumer.
These “hidden” costs of trade…
