Question 6
- State five function of an Export Promotion Council.
- Outline five role performed by the Customs and Excise Authority towards
Observation
Most candidates who attempted the question did well and scored high marks.
The expected responses are.
6a. Advertising
(a) Functions of an Export Promotion Council
(i) The council helps in the development and exportation of raw and semi–processed
products.
(ii) It assists businessmen to obtain export credit financing and insurance for their goods in transit.
(iii) It supports and encourages private sector businesses to participate in overseas trade fairs and exhibitions.
(iv) It gathers information and publishes them for the benefit of citizens seeking business opportunities to exploit and remain in business.
(v) It acquires latest technologies to improve on the quality of products to meet international standards.
(vi) It jointly organises local exhibitions for the country’s products with the Chamber of Commerce.
(vii) It explores different avenues to penetrate into new markets abroad.
(viii) It organises training, workshops and seminars in export management and international marketing for the personnel and agencies engaged in foreign trade.
(b) Roles performed by the Customs and Excise Authority towards the growth of Commerce
(i) It supervises the bonded warehouses and ensures that duties on all imported goods are paid.
(ii) It generates revenue for the government.
(iii) It issues clearance certificates for goods whose duties are paid before leaving the ports to various destinations.
(iv) It enforces bans put in place by government and ensures that banned items are not brought into the country./Prevent dumping.
(v) It deters the activities of smugglers at the nation’s borders, seaports and airports.
(vi) It provides quarantine facilities to ensure that unhealthy livestock are not brought into the country.
(vii) It aids in the computation and compilation of import and export statistics.