Newsletter NEW - 3Timpex

3T IMPEX TRADE ACADEMY RA

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DIGEST

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....Promoting International Trade Education

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3T ...ENHANCING EXPORT TRADE EDUCATION

FG Revised Import And Export Documentation/ Timeline For Processing Form “NXP” PG1-2

VOLUME 2 ISSUE 19

Handling the Export Boot Export Critical 5Ps of Camp and Business Export Business Import-Export Success-Part-5 Master Series on DVD Help Line. (The Payment) (Vol. I – III) PG 3

PG 3

PG 4

Export Trade Leads, Export Commodities Prices, Export Trade Terms PG 4

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he Federal Government of Nigeria in its effort to create an enabling environment for doing business in Nigeria has approved the reduction of documentation requirements and timeline for import and export trade transaction in the country. The revised Import documentations are Bill of Lading, Certificate of Origin (Formerly combined certificate of Value and Origin (CCVO), Commercial Invoice, Exit Note (Formerly Exit Gate), Form “M”, Packing List, Single Goods Declaration (SGD) and Product Certificate. The revised Export documentation includes Bill of Lading, Certificate of Origin, Commercial Invoice, Single Goods Declaration (SGD), Nigerian Export Proceeds (NXP) Form, Clean Certificate of Inspection (CCI) and Packing List. According to the Central Bank of Nigeria (CBN), timeline for processing form “NXP” shall be 48hours maximum from the receipt of the application subject to appropriate documentations by the Authorized dealers to the CBN.

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he Central Bank of Nigeria (CBN) in a continuing effort to deepen the foreign exchange (FX) market and accommodate all the Foreign Exchange obligation has announced a special window for Investors, Exporters and EndUsers. According to Dr. Alvan E. Ikoku, (Director, Financial Markets Department) said the purpose of this window is to boost liquidity in the Foreign Exchange market and ensure timely execution and settlement for eligible transactions. Transactions eligible for accessing the window are Invisible transactions (excluding International Airline ticket sales remittance), Bills for Collection and any other trade-related payment obligations (at the instance of the customer). To this end, the CBN will supply foreign currency to the window through portfolio investors, exporters, authorized dealers and other parties with foreign currency to exchange to Naira which takes effect from April 24th, 2017. (Excerpt from www.cbn.gov.ng)

(Excerpt from www.cbn.gov.ng)

'$72M YEARLY POTENTIAL EARNINGS FROM SHEA NUTS PRODUCTION UNTAPPED’

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he National Shea Producers Association of Nigeria (NASPAN) has stated that converting about 100,000 metric tonnes of Shea nuts to produce 48,000 metric tonnes of Shea butter for export can generate more than $72 million for the Nigerian economy. . The president, NASPAN, JibrilBokani, during an international Shea conference in Lagos, tagged: 'Unlocking market opportunities in the Nigerian Shea value chain'? noted that Nigeria currently produces about 300,000 tonnes of Shea nuts yearly making it the largest producer, but however stated that this volume is about 40 per cent of the sector's real potential. He added that the association Shea industry is enormous in Nigeria, but basically at its rudimentary stage and underdeveloped, calling for the need to deploy automative and mechanized processes to boost Shea nuts production for export. “Nigeria remains the lowest exporter of both Shea nuts and Shea butter. There exists a clear opportunity for Nigeria to create wealth and employment to be driven by value addition and export of Shea butter and Shea cake,” he said. (Excerpt from www.guardian.ng.com)

Egypt has halted fish exports after a surge in sales to foreign markets, President Abdel Fattah al-Sisi said. The action resulted from last November's currency devaluation that led to supply shortages locally and a spike in domestic prices, according to the president. The President told Newsmen that Egypt used to export 40,000 tonnes of fish a year. Within the first three months of this year, we exported 120,000 tonnes. That is why we took a decision to halt exports of fish. The suspension of fish exports came after the government this month imposed a tariff on sugar export of 3,000 Egyptian pounds per tonne. (Excerpt from www.nan.ng)

Buy your copy today

N5,000 per copy

on (Enclosed Free Audio CD

Export Training)

...Promoting Export, Creating Exporters And Growing Exporters

3T Impex Trade Consulting Address: 11D Bola Shadipe Street, Off Adelabu Street, Surulere, Lagos, NG. Email: [email protected] Website: www.tradeacademy.ng Tel: +234 809 124 4449, +234 808 334 2449 +234 703 870 4402, +234 809 999 3142

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xport of organically made products, both food and non-food, is likely to grow threefold in the four years to 2020, following the government's relaxation on quota limits.

According to the Agricultural & Processed Food Products Export Development Authority (Apeda), Indian farmers produced around 1.35 million tonnes (mt) of certified organic products in 2015-16 which include all varieties of food products namely sugarcane. Of this, export was 263,687 tonnes, worth $298 million (Rs 1,900 crore). Through a notification dated April 19, the Directorate General of Foreign Trade liberalized the quantitative restrictions on export of such products. (Excerpt from www.business-standard.com)

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airo proved to be fruitful ground for the 23 companies and farm groups who were part of a recent FAS-sponsored trade mission there.

As a result of three days of meetings with potential customers from Egypt, Algeria and Jordan, mission participants reported immediate, on-site sales of U.S. farm and food products totaling $6.3 million – with total projected sales of $13 million over the next 12 months. In addition to 278 one-on-one meetings between U.S. exporters and potential buyers, mission highlights included visits to Egypt's largest dairy farm, a large juice producer, a peanut processor and a soybean crushing facility. Participant feedback about the mission was overwhelmingly positive. As one delegate said, “This was a great mission and such missions have always been beneficial for small businesses to make new connections and increased sales.” (Excerpt from www.fas.usda.gov)

The Trade Broker of 3T Impex Trade Consulting covering Europe and Asia has requested for the following products from Nigeria. They include; · Peanuts without shell · Cassava (Tapoica) starch · Palm Kernel Cake · Sweet potato The demand for these products is up to 1000MT per month.

Interested exporters should contact

3T IMPEX

TRADE CONSULTING on 08091244449 or send an email to [email protected] in order to get more details on pricing and quality specifications. (Excerpt from www.tradeinfong.com)

Project 6x6000 Exporters is an initiative of 3T Impex Trade Academy and it is aimed at raising Legion of Exporters in the 6 geopolitical zones of Nigeria. It targeted at creating 6,000 Micro, Small & Medium Scale (MSME) Exporters in each of the 6 zones of the country by 2025. It involves a FREE export workshop and advisory services for different group of people in different parts of the country. The Target group include: -Religious Organizations -Cooperatives -Clubs -Association -NGOs etc The rationale behind this is that, if we can build capacity of the MSME to export semi processed or finished goods on a small scale, then they can grow the non-oil export volume within a short time. We are focusing only on group of people who already have something in common and therefore could export together in groups or in clusters. The Objectives of this initiative include: -to educate the public about export business planning & preparation -to enlighten the public on the export business possibilities -to enlarge the scope of exportable products -to empower the people with info on export business processes -to encourage the people to team up to exportation -to create employment via export business promotion Kindly note that before we can honour your invitation, you must be able to gather at least 50 people together from your organization and they must have pre-registered with their phone numbers and emails sent to us for confirmation before we can come for the training. The training is done FREE of charge, for location outside Lagos, the organization will bare our transport and accommodation costs. The organization is also allowed to decide the honorarium. To send us your invitation, kindly provide the information below and send it to [email protected]. Name Phone Email Organization Address Training Location Proposed Date Proposed Time Project 6 x 6000......Raising Legion of Exporters (Excerpt from www.3timpex.com)

OTHER HEADLINES Driving Nigeria's Economic Diversification through Solid Minerals - www.businessonline.com

Gold Regains Status as Tanzania's Top Export - www.thecitizen.co.tz

NZ Mint signs 60 million dollar Export agreement with China – www.scoop.co.nz

Nigeria: Agoa - Vital Boost for Aba Leather, Garment Cluster Export – www.AllAfrica.com

(The Payment) …..Cont'd from Last Issue

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he next and the fifth question states that, why are some payment methods not attractive to banks and is there a way to make them acceptable.? The two payment methods that can make a bank to decline funding an export transaction include Open Account (Cash against documents) and Bill for Collection. However, if an open account transaction can be backed by either a standby letter of credit or payment guarantee, it still retains its simplicity but also becomes attractive for banks to fund. On the other hand, if a buyer's bank under a Bill for collection transaction availises (guarantees) the accepted Bill of Exchange, this makes the transaction to become attractive to banks for funding. The second to the last question states that, which instruments can give banks comfort when financing local supply? In country like Nigeria, where most of the exportable items are hard and soft commodities, in an environment that is largely unstructured, banks need comfort in order to be involve in pre-export financing. This therefore means that any exporter that wants the bank to finance the procurement of the commodities from their local supplier must be ready to work with people that will secure the bank's funds through Advance Payment Guarantee (if they need the bank to advance funds ahead of delivery). For questions on this thought, you can reach me via email to [email protected] ….To be Continued

Export Business Kit is a quick reference material for exporters and export financiers. It is a well-researched self-study material put together by a seasoned trained professional. It is a comprehensive guide to export business and export business financing and it covers different aspects of Non-Oil Export Business in Nigeria.

Export Business Kit Contains: 5. Transition From Local Production To Global Consumption 1. A-Z of Export Business Financing (Book) (1 Audio CD) 2. A-Z of Export Business Financing (2 Audio CDs) 6. ABC of Export (1 Audio CD) 3. A-Z of Export Business Success (1 Audio CD) 7. Retirement Planning From Employee To 4. Handling 5 P’s of Export Business Challenges (5 Entrepreneurship (2 Audio Cds) Audio CDs)

N50, 000

TRADE LEADS EXPORT ORDERS S/N PRODUCT 1. 2.

PRICE

N5,000 Title: Preparation, Planning and People(Vol. I) Author: Bamidele Ayemibo Duration: 34Mins

3.

SPECIFICATIONS

MINIMUM SHIPMENT

Zinc Ore Purity-35% 60 MT Per Month Charcoal request from Charcoal from Hardwood like Ayin, 60 MT Per Month Dubai Size-40-200mm, no sparkling wood and moisture -8% max Lead Ore Purity-50% 60 MT Per Month

LOCAL ORDERS S/N PRODUCT

SPECIFICATIONS / PAYMENT

MONTHLY VOLUME

1 2 3

Purity-35% | Bank Guarantee Purity-50% | Bank Guarantee Purity-30% | Bank Guarantee

120 MT Per Month 120 MT Per Month 120 MT Per Month

Zinc Ore Lead Ore Lead Oxide

COMMODITY PRICES (BLOOMBERG)

PRICE

N5,000 Title: Product, Packaging and Promotion (Vol. II) Author: Bamidele Ayemibo Duration: 49Mins

S/N COMMODITY

PRICES

UNIT OF MEASURMENT

1 2 3 4 5 6 7

USD 1,873.00 USD 140.65 USD 78.50 USD 1,903.00 USD 5,556.00 USD 2,548.00 USD 19,800.00

Metric Tonnes (Mt) Pounds (lb) Pounds (lb) Bushel (Bu) Metric Tonnes (Mt) Metric Tonnes (Mt) Metric Tonnes (Mt)

Cocoa Beans Coffee Cotton Aluminium Copper Zinc Tin

EXPORT TERMS USED IN INTERNATIONAL TRADE REVOCABLE

ROYALTY PAYMENT

PRICE

N5,000 Title: Process, Paperwork and Payment(Vol. III) Author: Bamidele Ayemibo Duration: 42Mins

STANDARD INTERNATIONAL TRADE CLASSIFICATION (SITC) SHIPPER'S EXPORT DECLARATION

Applied to letters of credit. A revocable letter of credit is one which can be altered or cancelled by the buyer after he has opened it through his bank. The share of the product or profit paid by a licensee to his licenser. A numerical system developed by the United Nations to classify commodities used in international trade as an aid to reporting trade statistics. A form required by the Federal government and completed by a shipper showing the value, weight, consignee, destination, etc., of export shipments