Onayemi Explores the Nuances of International Trade Law at IBA SBL Young Lawyers’ Training Programme in Abuja
The Young Lawyers’ Training Programme of the NBA’s Section on Business Law (SBL) in partnership with the International Bar Association (IBA) also featured a highly stimulating breakout lecture, as Adetola Onayemi, who is the vice-chairman of the Nigerian Office for Trade Negotiations in Abuja and a young lawyer himself, spoke on the topic, ‘Introduction to International Trade Law.’ Onayemi took his enraptured audience through the history and evolution of trade between and among individuals and entities, including sovereign nations as presently constituted, Newswire Law and Events Magazine correspondent reports.
He also dealt with some of the most topical and contentious issues in international trade today – such as balance of trade, protectionism, global versus regional value chains, etc. – and what international trade law, as codified by global regulatory bodies such as the 164-member World Trade Organization (WTO) and its predecessor, the General Agreements on Tariffs and Trade (GATT) had to say.
Also Read: Afba Reveals Hotel Partners / Provisional Program Schedule 2018 Conference Sessions
On Nigeria’s bid to reduce its over-dependence on imports, the speaker said the issue was not so much that the country was importing too much, as that it was exporting too little. He called for a production-oriented economy and society which has the capacity to export not only raw materials in their primary state but products higher up in the value chain. Onayemi also called for a balance between extreme protectionism and making a distinction as to what to protect and what to open a country’s borders to. He called on countries like Nigeria to grow capacity in key (albeit small) areas of comparative advantage – rather than try to monopolize or corner entire production and market shares.
Also Read: Commencement of Registration Nigerian Bar Association 2018 Annual General Conference/
Onayemi’s brilliant exposition was followed by an equally engaging Q&A session, in which participants wanted to know if Nigeria should follow every current global trend – or find and follow her own path according to her peculiar needs; whether protectionism was the best path for Nigeria for now; whether the recent bid by the North African country of Morocco to join the Economic Community of West African States (ECOWAS) was a plus or minus as far as the economic fortunes of the sub-region was concerned; and whether the looming trade war between the United States of America and the People’s Republic of China would impact the global economy negatively or positively in the long run.
Subscribe for your copy/copies now
Do you need to be heard? Or your articles published? Send your views, messages, articles or press release to: newswiremagazine@yahoo.co.uk >>> We can cover your (LAW) events at the first Call: 08039218044, 08024004726
-Advertisement-
Grab our latest Magazine, "Chief Wole Olanipekun, CFR, SAN, A man of wide horizons and deep intentions". Get your order fast and stress free.
For more details about Newswire Law&Events Magazine, kindly reach out to us on 08039218044, 09070309355. Email: newswiremagazine@yahoo.co.uk. You will be glad you did
