The Nigerian Export Promotion Council (NEPC) said exporters in Imo raked in over N1.3 billion from June 2023 to July 2024.
Executive Director of the council, Nonye Ayeni, said this at a one-day sensitisation workshop on the use of International Commercial Terms ( INCOTERMS), organised for Imo exporters by the council in Owerri on Friday.
Ayeni, represented by the Imo Coordinator of NEPC, Mr Anthony Ajuruchi, said that profit was an indication of the hard-work and commitment of non-oil exporters in the state.
He said that the workshop was necessary to equip exporters with requisite knowledge of INCOTERMS which, he said, holds the key to unlocking successful global trade transactions.
“Understanding INCOTERMS plays a vital role in international trade, providing a standardised framework for buyers and sellers to communicate and manage their responsibilities and liabilities.
“By understanding the 11 INCOTERMS rules, businesses can clarify their obligations and risks with a view to minimising misunderstandings and disputes.
“Businesses can also optimise their logistics and supply chain operations, in order to enhance their competitiveness in the global market,“ Ayeni said.
He urged the exporters to understudy INCOTERMS to be properly guided in order to avoid fraud by middlemen.
The Managing Director of St Ann’s Cashew Nut Industry,
Mr Uche Chikata, thanked NEPC for organising the workshop.
According to him, the exercise will enable exporters in the state to increase their income target in the last quarter of 2024. (NAN
