Business
Freight train service deepens China-Europe cooperation amid pandemic
John Okeke
On June 29, a Yiwu-Madrid express train carrying 70 TEU containers of pandemic prevention materials arrived in Madrid, Spain. The goods, including 25.05 million masks and 400,000 sets of protective clothing, weighed 257 tons.
“These materials are very valuable. They support us in strengthening epidemic prevention and control and create a safe environment for resumption of production,” said the Spanish manager of DSV, a Danish transport and logistics company.
Spain has a rising demand for pandemic prevention materials, and the China-Europe freight train service has obvious advantages in material transportation. It is reliable and convenient, he added.
Wu Haitao, the Chinese ambassador to Spain, said the Yiwu-Madrid express train carrying medical materials is a living proof of international anti-coronavirus cooperation.
Since the COVID-19 outbreak, the freight trains have been playing a crucial role in supporting Europe’s anti-pandemic fight by opening “green passages” for the transport of important supplies and raw materials.
Over the course of the first six months of the year, freight trains have made a total of 294 trips along the Yiwu-Madrid line, carrying 24,466 TEU containers, up 117.1 percent year-on-year.
Carlos Santana, who is responsible for the company operating the Yiwu-Madrid line in Spain, said that railway transport has been proven to be a bridge of strengthening anti-pandemic cooperation, while deepening friendship between the two countries.
Business
RMRDC Legislative Bill To Ensure Minimum 30% Raw Materials Value Addition Before Export Passes 2nd Reading
By Stella Azi
The Raw Materials Research and Development Council (RMRDC) Bill before the Senate of the National Assembly, to ensure local processing of at least 30% raw materials before export scales 2nd reading Today, Tuesday, December 10, 2024.
The Local Raw Materials Protection draft legislative Bill, sponsored by Senator Nwebonyi Onyeka Peter, from Ebonyi North Senatorial District, is imperative for fostering Nigeria’s industrial growth and development through value addition locally. The Bill seeks to amend the RMRDC Act 2022 to prioritise domestic production and local manufacturing.
During the plenary session at the Senate sitting, Senator Onyeka argued that the draft Bill when passed to law, would transform the national economy by boosting local manufacturing, create job opportunities, reduce import dependence, and ease pressure on foreign exchange demands.
The Senator said that Bill will regulate the importation of raw materials that could have been processed locally, thereby boosting competitiveness and creating a favourable environment for local industries to flourish.
“Promoting local processing to a minimum of 30% or more will add value to our economy, … It will also encourage innovation within local industries, leading to a significant increase in domestic production”, he said.
At its second reading, the Raw Material Protection Bill received overwhelming support of by the House. The Deputy Senate Minority leader, Senator Lere Oyewumi raised concern on the practicality of the Bill; considering raw materials processors who lack capacity for local processing. He stated that strict enforcement may affect manufacturers who rely on import of such raw materials therefore, resulting to lose. He argued that such scenario be taken into consideration.
Earlier, during a chat with journalists, the Director General and Chief Executive officer RMRDC, Prof. Nnanyelugo Martin Ike-Muonso had noted that the Bill seeks to fortify Nigeria’s Local manufacturing sector, reduce dependency on imports and ensure sustainable economic development, through the promotion of local processing and value addition to the nation’s raw materials resources.
He further noted that, when passed, the Bill will ensure that no raw materials are exported without undergoing a minimum of 30% processing locally, adding that this significant stride in national raw materials and manufacturing policy reform will provide Nigerians with more forex for raw materials sourcing, protect natural our resources, and catalyse domestic processing capabilities in the country.
-
Featured5 years agoLampard Names New Chelsea Manager
-
Featured5 years agoFG To Extends Lockdown In FCT, Lagos Ogun states For 7days
-
Featured5 years agoNYSC Dismisses Report Of DG’s Plan To Islamize Benue Orientation Camp
-
Featured5 years agoChildren Custody: Court Adjourns Mike Ezuruonye, Wife’s Case To April 7
-
Featured3 years agoTransfer Saga: How Mikel Obi Refused to compensate me After I Linked Him Worth $4m Deal In Kuwait SC – Okafor
-
Sports2 years ago
TINUBU LAMBAST DELE MOMODU
-
Featured5 years ago
Board urges FG to establish one-stop rehabilitation centres in 6 geopolitical zones
-
News1 year agoJubilation In Kaduna As Tribunal Upholds Ekene Adam Winner Of Reps Election
5 Comments