The Nigerian government on Tuesday signed an agreement with King & Spalding, LLP, a Geneva, a Switzerland-based trade law firm, to help improve the country’s legislation against dumping as a key element of modern trade policy.
The agreement was signed in Geneva on behalf of the Nigerian Government by the Chief Negotiator and Director General of the Nigerian Office for Trade Negotiations, NOTN, Chiedu Osakwe. Daniel Crosby signed on behalf of King & Spalding.
Under the terms of the agreement, King & Spalding would support Nigeria in the drafting of trade remedy laws as well as prepare a legal brief on the rationale and requirements for the legislation to effectively stop dumping on the Nigerian market.
The terms of agreement made available to PREMIUM TIMES in a statement by the spokesperson of the Ministry of Trade & Investment, Constance Ikokwu, revealed that the company’s services would be on a pro bono basis.
Mr. Osakwe noted that Nigeria had been grappling unsuccessfully with increased cases of dumping and other injurious imports into the economy.
He said this was undermining serious efforts by the Federal Government to support local manufacturers and service providers to competitively grow the economy through integration to global value chains, in a rules-based global economy.
“Dumping in the Nigerian market is illegal and anti-development,” he pointed out. “The legal services and technical support to be provided by King & Spalding is a major step forward to definitively stop this illegal practice and alarming increase of dumping in the Nigerian economy.”
While commending King & Spalding for its pro bono support to Nigeria, Mr. Osakwe said the government looked forward to a technically solid partnership to establish a rules-based trade remedy infrastructure for the country in 2018.
In his speech at the signing ceremony, Mr. Crosby acknowledged Nigeria as “one of Africa’s most ambitious and exciting economies.”
He said government’s commitment to economic and social development as well as efforts to nurture local businesses and industries was an important step in the right direction to grow the economy.
“We’re extremely pleased to collaborate on a pro bono basis with Nigeria through the Nigerian Office for Trade Negotiations, NOTN to help establish a World Trade organisation, WTO-consistent trade remedy system to promote free and fair trade, while protecting local entrepreneurs and keeping the country competitive as it integrates further into global markets,” he said.
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