By Henry Umoru

THERE are strong indications that the 153 member Trade Organization will conclude the Doha Round of Negotiations in 2011, just as the World Trade Organization, WTO has assured member countries of a level playing ground.

According to WTO, every member would be carried along before any agreement is signed. Doha Rounds are the principal documents agreed to by WTO member governments at important stages in the trade negotiations that were launched by the Doha Ministerial Conference in November 2001.

Speaking at a Friedrich_Ebert-Stiftung (FES)— WTO Seminar for English-Speaking Journalists in Geneva, the Director of Information and External Relations Division, Keith Rockwell who noted that the Organisation was about commitment of members to others, said, “Nothing is agreed until everything is agreed.”

Meanwhile, while speaking on her country’s economic landscape, the Malaysia Ambassador/Permanent Representative at the WTO, Hiswani Harun, said that if Nigeria as a country and other nations must achieve their set goals especially the vision 20: 2020, there was the need to harness the huge raw materials as well as engage in technology and innovation as that will add value to their products rather than rely on importation of finished products. “A lot of developing countries have to engage in value addition using modern technologies. That is the way to go,’ she said.

According to her, the Malaysian government had set in motion the New Economic Model that will make it one of the top industrialised countries in the year 2020, adding that the model focuses on enhancing innovation, services sector as well as move the economy up the value chain towards a high-income economy.

“The key thrusts to ensure Malaysia remains on track towards the vision of a developed nation in 2020, include: enhancing the competitiveness of the economy; diversifying the exports markets to reduce over-dependence on traditional markets; stimulating new sources of growth, including promoting the development of the services sector; intensifying research, development and commercialisation of domestic produces; human resource development; and promoting sustainable development,” she added.

It will be recalled that Malaysia, which in the 60s collected palm kernels from Nigeria and is today the second largest producer of palm oil in the world.

Also recall that the WTO Director-General Pascal Lamy had announced at a Trade Negotiations Committee meeting 30 November 2010 that there was an ‘intensive work programme’ to finish the Doha Round by the end of next year.

The WTO agreements cover goods, services and intellectual property. They spell out the principles of liberalisation, and the permitted exceptions, They include individual countries’ commitments to lower customs tariffs and other trade barriers, and to open and keep open services markets. They set procedures for settling disputes.

They prescribe special treatment for developing countries. They require governments to make their trade policies transparent by notifying the WTO about laws in force and measures adopted, and through regular reports by the secretariat on countries’ trade policies.

Pascal Lamy was quoted to have said: “We have the political signal, we have the technical expertise and we have the work programme. We now need to translate these into a comprehensive deal which you can all take back home.”

According to WTO: “The original aim was to reach agreement on almost all subjects in the negotiation by January 1, 2005. The only exceptions were the negotiation on improving and clarifying the Dispute Settlement Understanding (with a deadline of 31 May 2003 and technically not part of the “single undertaking”) and the negotiations on a registration system for geographical indications for wines and spirits (with a deadline of the Fifth Ministerial Conference in 2003).

Those deadlines were missed and the dates are now history.“Because they are complex, the negotiations have progressed in stages, each stage narrowing down differences through interim agreements that represent the ‘acquis’ — what has been acquired or achieved so far.

“The talks are nicknamed the Doha Round after the city where they were launched even though they mainly take place in Geneva. They are also called the Doha Development Agenda, partly to emphasize that development is a main objective, and partly to underscore that negotiations are one half of the work programme — the other half deals with problems that developing countries face in the implementation of the present agreements.”

CBN  gives Decembers 31 customer information update ultimatum  Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria , CNB, has given all banks in the country a December 31, 2010 deadline to  update their Know_Your_Customer , KYC, information

CBN’s Deputy Governor ,DG,  in charge of Financial System Stability, FSS, Dr. Kingsley Moghalu, said at a joint briefing with the Economic and Financial Crimes Commission, EFCC, the Nigeria Financial Intelligence Unit ,   NFIU,  the United Nations, in Abuja, last week that  customers who failed to update their information would be barred from operating their accounts at the expiration of the deadline.

He explained that the the move was to further check money laundering and terrorism financing in the country. His words, “the CBN is aware that Customer Due Diligence, CDD, which involves KYC compliance, is accepted worldwide as a veritable tool towards the fight against money laundering and terrorism financing.

“The fight against money laundering and other vices such as financing of terrorist activities is a global one;  Nigeria can therefore not afford to be left behind, “ he said.

Dr. Moghalu noted that Nigeria was placed under list of countries targeted for close monitoring by the Financial Action Task Force , FATF, in February this year due to the country’s poor Customer Due Diligence by Nigerian banks.

According to him, a one_month sensitization period lasting December 1 through December 31, 2010 would be used to mount a wide campaign to educate all bank customers and to persuade them to update their personal date with all their banks.

The DG stated that banks have been experiencing a lot of challenges in their quest to obtain the necessary KYC information from their customers as required by regulators, adding, “customers are reluctant to supply the requested information primarily because they are not aware of its importance.

They erroneously feel that the request for information is only a prelude to filing transaction reports against them to the regulatory authorities”

He warned however, that at the end of the campaign on December 31, 2010,” customers would be expected to have updated their accounts, failing which they would be barred from operating their accounts until they update the required information”

Dr. Moghalu said it was in the best interest of  customer s themselves to provide all necessary KYC information to their banks, stressing, “it is only when financial institutions know their customers well that they can determine that their customers are not linked to money laundering, terrorist financing and other financial crimes.  Moreover, it is only when financial institutions know their customers well through appropriate due diligence measures, then they can assert with utmost certainty their characters and type of businesses.”