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The 2nd Annual UK-Nigeria Trade and Investment Mission Summit 2023.

“Building Sustainable Trading and Investment Roots: and understanding the ‘Rules of Origin for Nigeria”

20th to 28th August 2023
@ Cities of London and Birmingham

REGISTER

Click below to register, for interest to participate in the 2nd Uk-Nigeria Trade and Investment mission summit 2023

The ties between Nigeria and the UK may have been deep-rooted in its historical and political
heritage although over the past sixty years it has since evolved into a more dynamic relationship that
includes education, trade, arts and culture exchanges. The UK and Nigeria have an excellent
commercial relationship with over £6.1 billion worth of trade per year and the 2nd largest African
market for goods. UK companies are extremely well-known in Nigeria and UK brands (especially
luxury goods) are in very high demand, from household items to whiskey. Nigeria has one of the
lowest income tax rates in the world, 7%-24%, and therefore the growing consumer base of
Nigerians has a lot more disposable income. As a foreign investor, there are investment incentives in
Nigeria. Some of these incentives cover all sectors, while others are limited to specific sectors.

Executive Summary of UK/Nigeria Trade relations

The first UK-Nigeria Trade and Investment Mission was held in April 2022 in the cities of London and Peterborough, with participants from Nigeria and UK. The Nigeria delegation was led by the Hon. Minister for Industry, Trade and Investment, His. Excellency Otunba Adeniyi Adebayo, accompanied by the Hon. Minister of state for Finance, Budget and National Planning, Prince Clem Agba with both ministries Permanent Secretaries, Senior Directors, delegations from the Nigeria Port Authority, Standard Organisation of Nigeria, Nigeria Export Processing Zone Authority, Nigeria Oil and Gas Free Zone Authority; and from the private sector delegation are, top directors of, Agro-Allied Commodities and Produce Services Ltd Nig, OFICON Group Ltd Nig, Automatic Fit and Energy Ltd Nig, Fisolak Global Resources Ltd Nig, and British Nigeria Business Network while the UK participants were representatives of the House of Lords led by Lord Taylor of Warwick, representatives from the
Commonwealth’s trade department, Foreign and Commonwealth office, DIT East of England office, British Africa Business Alliance, Opportunity Peterborough, Commonwealth Entrepreneurs Club UK, while we had private businesses such as; Wanis International UK, ETK Group UK, Across Atlantic UK, Book Aid Africa, Chelgate Group, Genesis Energy Group, GKB Ventures UK, Alvan Blanch UK, Angle Meals, Grovemere Property Cambridge, Lancaster Business Park Ely, Paragon Precision Engineering Ely, Cambridge Commodities.

The delegation went on two business site visits of Wanis International and Paragon Precision Engineering Ltd. Wanis International Foods is one of the big importers and exporters of goods(foods) from and to Nigeria. They are the biggest distributors of Nigerian food product from large and small retailers throughout the UK and Europe.

Delegation at Wanis

The delegation met with the company Managing Director and the management staff and Paragon Precision Engineering Limited employs over 20 high skilled workers, in engineering technology designs, producing various spare parts for high key value manufacturing companies around the world, including defence and aircraft industries. Paragon Precision Engineering Ltd is owned by Mr. Ejike a Nigerian of Igbo extraction.

Mr. Ejike with delegates at Paragon Precision Engineering Limited.

The main focus of the mission is to identify key challenges and opportunities of improving trade and investment relations between UK and Nigeria post-brexit, which was very well re-emphasised in his keynote speech at the opening session in the House of Lords, Lord Carlile, who spoke on the “Economics of trade and investment post-brexit opportunities and relations, identified key policy issues and regulatory disadvantages which needs to be reviewed to better improve trade relations between the UK and Nigeria.

Though some of this regulatory and product quality specifications were obviously made know during the business site visit at Wanis International one of UK biggest importers of Agro-Produce from Nigeria.

In consideration of the above issues this year’s trade mission and summit would definitely build on the major achievements from last summit, one of which is setting the agenda and process of creating key Nigeria Produce exports with a recognised country of origin statues into the UK market.
In view of this, the trade mission would discuss and negotiate the issues surrounding the Rule of Origin and the UK policy direction on “The developing countries trading scheme” (DCTS)

Rules of origin

Rules of origin (RoOs) are used to determine where goods are ‘from’, for example, where they have been produced or had substantial work done to them. This is used in determining appropriate tariff rates, access to preferential trade arrangements or application of trade sanctions.

Rules of origin provide the criteria for testing whether a good can be considered to have been produced in a particular country. They determine whether a good qualifies for any reduction in tariffs.

The Developing Countries Trading Scheme cuts administrative costs for businesses by reducing more tariffs and bringing more countries in scope of the most generous tariff reductions. It also cuts red tape for developing countries, for example by simplifying rules of origin requirements for the least developed nations. This helps the world’s poorest countries to export to the UK and play a more active part in fast growing global supply chains.

It also helps lower costs for UK businesses, leading to lower prices for consumers across a range of everyday products, by reducing tariffs on imports from low income and lower-middle income countries. Increasing trade and decreasing tariffs is another way the government is supporting businesses and individuals with cost-of-living increment.

The government is introducing the Developing Countries Trading Scheme (DCTS) to improve access to the UK market for developing countries. The DCTS will come into effect in early 2023. In line with the government’s new International Development Strategy, the scheme contributes to developing countries’ integration into the global economy, creating stronger trade and investment partners for the future, and strengthening supply chains. It grows free and fair trade with developing countries, boosting the economy and supporting jobs in those countries, as well as in ours.

With the theme of this year summit centred on: “Building Sustainable Trading and Investment Roots and understanding the ‘Rules of Origin for Nigeria”. The Trade Mission and Summit would be exploring the potential opportunities in which the Rules of Origin and DCTS in 2023, would do in projection balance exports of both fresh/processed and finished Agro-produce to the UK market, considering the tendency of Nigeria opening up to a Non-Oil Economy, new money, through its next 5 years National Economic Development Plan, which tends to promote private sector-led non-oil growth to build the foundation for economic diversification.

Based on the above the activities of this year’s mission and summit would be focused on two major economic cities of the United Kingdom, which are; City of London, the financial heart beat, and the City of Birmingham, the Black-County and the sustained Industrial heartland of the Northern Power House.

As a result of the need for access and roots to exports, we would make possible arrangements for delegates, especially intended exporters and Nigeria Port Authority officials to visit at least two major UK ports. There are 7 major shipping ports in the UK, managed by 5 different privately run companies. For the purposes of this mission we would consider visiting the Ports of Felixstowe, somewhere up North and the Ports of London (Tibury) down South.

Brief Information on both Ports:

The Ports of Felixstowe

A Felixstowe feature is one of the top 10 busiest European port facilities at the 9th position. The port shares most of its container handling duties (48%) amongst all the ports in the UK.

It spreads across 33.83 sq. km and has a total of 10 berths for container operations. The harbour originated in the late 1700s, while the facility is in existence since 1875.

The early operations at Felixstowe port were pipeline and railway pier transport records. Commercial cargo operations and breakthrough container handling started in the late 1960s.

Cargo Handling

Container operations at Felixstowe recorded an average of 3.8 million TEU for the past five years. Meanwhile, the figures from 2020 reflect 25.8 million MT cargo volumes with 65% of the inward flow. It shows that Felixstowe port is the pivot of major inbound finished goods trading for the UK.

There are a total of 22 movable gantries with a tire design for mobile lifting. The mega cranes at these berths have the largest capacity globally, lifting over 70 MT at once. Each crane has a maximum outward reach of 62 meters and a weight of approximately 2000MT.

Network and Layout

The human network at Felixstowe features over 3500 employees with an additional 2500 for internal handling. Over 11,000 meters of railway length and three terminals feature 72 rail calls per day.

The facility is also amongst the few in the UK to try 5G connections for security and surveillance matters. It is also one of the few harbours to have the super container vessels traffic inflow.

The Ports of London

The establishment of London port occurred during the 1st century as the most important trading port. The modern shipping trades in this port originated in the mid-1800s. London stands as the second biggest port facility in the UK behind Immingham in terms of tonnage. The port’s geographical location on the Bank of Thames invites high sea-going traffic through the North Sea. As the highest contributor, the port’s annual turnover is £4 billion over the last decade.

Cargo Handling

London is amongst the two ports in the UK to handle 54 million MT of cargo in 2019. The trade graph has a 4% decline for the port’s cargo in 2020. There are a total of 30 berths available for sea-going vessels of all sizes. Meanwhile, the average draught for vessel traffic is 17.5 meters. London Port’s 82% trade belongs to the inward flow of dry bulk, liquid cargo, and container vessels. The maximum quay length ranges around 655 meters with an average depth of 15.5 meters.

Network and Layout

The inland water network leading to the port amounts to 60% of vessel traffic within the region. The port facility employs over 45,000 staff that works for surveillance, cargo operations, and handling. It also allows passage to the national freight handling rail network.

Rationale For The Trade Mission

Mobin Rafiq
– Chairman CommonwealthEntrepreneurs Club UK –
“In Nigeria, the potential is there but something needs to be done”

Jan. 2020

UK-Africa Investment Summit in view of the final withdrawal of UK from the EU on the 1st of Jan 2021 to drive for new trade and investment agreements with Africa and Nigeria especially.

Oct. 2020

The Prime Minister’s appointment of Hon. Helen Grant MP, our London Political Summit ambassador as Trade Envoy to facilitate trade deals on behalf of the United Kingdom with Nigeria

Dec. 2020

Brexit deal done, ushering exponential opportunities for trade relations betweenAfrica, the United Kingdom and the EU

Jan 2021

UK-Africa Investment Conference 2021 toexpolore trade relations to facikitate Africa’sgrowth trajectory.

April 2021

International Business Round Table with overwhelming commitments from the public and private sector for a trade mission to the United Kingdom

April 2022

Trade Mission to the United Kingdom

July 2023

Proposed Trade Mission to the United Kingdom

Trade Mission Timeline

24TH APRIL 2022: Delegates Arrival and Hotel Check -In
25TH APRIL 2022: Delegates Courtesy Visit to Nigeria High Commissioner. Nigeria House.Host: His Excellency Amb. Sarafat Isola
25TH APRIL 2022: First Parliamentary Meeting. Committee Meeting Room, House ofParliament Hosts: Lord John Taylor of Warwick and Hon. Paul Bristow MP for Peterborough
26TH APRIL 2022: First Business meeting with Business Groups in the City of London
27TH APRIL 2022: Peterborough City Trade Mission Summit and meeting with the Mayor andDeputy Mayor of Cambridge and Peterborough Combined Authority and East of EnglandBusiness Groups. Host - Opportunity Peterborough Network.
28TH APRIL 2022: The Company sites visit in Huntingdon and Peterborough (Hampton Foods),Ely (Cambridge Commodities) and peterborough, (Pickens Engineering)
28TH APRIL 2022: Delegates depart Peterborough for City of London day rest and businessnetworks
29TH APRIL 2022: Second City of London Business Meetings, CEC. Delegates Tour of Londonlandmarks, Her Majesty Borough Visit and Dinner Evening Networking
30TH APRIL 2022: End of Trade Mission Summit. Delegates rest/Departure from the UK.

To see more details, kindly download the concept note

Benefits of theTrade Mission

Collaboration for venture partnerships between the United Kingdom and Nigeria to engineer sector specific growth in Agro-business and non-oil exports, deriving stronger foreign exchange and new money into the Nigerian economy

Venture Funding

Funding for emerging ventures in Agriculture, Information Communication Technology, Tech Start ups, Education, Health, Environment, Mineral Resource Utilization and Renewable Energy.

BENEFITS OF THE TRADE MISSION

Collaboration: for venture partnerships between the United Kingdom and Nigeria to engineer sector specific growth
Venture Funding: Funding for emerging ventures in Agriculture, Financial Technology, Real Estate, Information and Communication Technology, Education, Health, Natural Resource Utilization, Tourism, Environment and Renewable Energy.
Partnerships: Partnerships across sectors after round table discussions with British Business Networks, including but not limited to, the British African Business Alliance, Opportunity Peterborough, the Cambridge Chamber of Commerce, the Manchester Chamber of Commerce, the Birmingham Chamber of Commerce, the Institute of Management and Leadership UK and the Across Atlantic Development – accredited project partners with the European Union.
Opportunity for access: An opportunity for access into the trade hubs of London, Birmingham, Manchester and Peterborough.
An Invitation to the London Political Summit: International networking with key partners in the United Kingdom and our global ambassadors across governments in Europe and Africa. It hosts an array of our global ambassadors like the President of Malawi, H.E Dr. Lazarus Chakwera, the former President of Malawi, H.E Prof Arthur Mutharika, the former Prime Minister of Kenya, H.E Raila Odinga and an extensive network of our partners across Europe, America and Africa

Partnerships

Partnerships across sectors after round table discussions with British Business Networks, including but not limited to, the British African Business Alliance, Opportunity Peterborough, the Cambridge Chamber of Commerce, the Birmingham Chamber of Commerce, the Institute of Management and Leadership UK, the Across Atlantic Development–accredited project partners with the European Union and businesses to achieve a positive balance of trade between the Uk and Nigeria.

AGENDA

Bilateral trade agreements with the United Kingdom to promote other forms of investment, infrastructure development and trade in Agriculture, Financial Technology, Real Estate, Information and Communication Technology, Education, Health, Natural Resource Utilization, Tourism, Environment and Renewable Energy options in Nigeria.

Click below to register, for interest to participate

Induction of key delegates into international entrepreneurship bodies

World-renown business groups with an extensive network of partners - courtesy of C&M partnership as benefits of attending the summit in the UK

Commonwealth Entrepreneurs Club UK
An exclusive venture association spanning fifty-four (54) countries of the Commonwealth, the British African Business Alliance, a diaspora led network of business leaders, investors and development organizations in Africa or expanding to Africa
Insititute of Leadership and Management UK
Established in 1947, a professional body that combines years of research, knowledge and innovation to champion the leadership agenda for individuals, corporate businesses, development institutions and nations.
Opportunity Peterborough UK:
An economic development agency with the purpose of supporting businesses to grow and attract new companies to set up in Peterborough and by extension the United Kingdom.
Occupational Safety and Health Association, UK and Nigeria
The Occupational Safety and Health Association (OSHAssociation) is an international professional organisation with the aim of promoting safety in the field of Occupational Safety and Health (OSH) globally.