The Federal Government has entered into an agreement with a leading trade law firm, King
and Spalding, LLP Geneva, Switzerland, to provide legal services for
Nigeria’s trade remedy legislation, as a key element of modern trade
policy.
The agreement was signed in Geneva by
Chief Negotiator and Director General of the Nigerian Office for Trade
Negotiations (NOTN), Ambassador Chiedu Osakwe for Nigeria and Mr. Daniel Crosby for King and Spalding
King and Spalding is expected to support
the drafting of Nigeria’s trade remedy law as well as prepare a legal
brief on the rationale and requirements for the legislation, which will
effectively stop dumping on the Nigerian market
The company’s services are on a pro bono
basis. Osakwe noted that Nigeria has been grappling unsuccessfully with
increased cases of dumping and other injurious imports in the economy.
This, in his view, is undermining serious efforts of 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.
According to him, dumping in the Nigerian
market is illegal and anti-development.The legal services and technical
support to be provided by King and Spalding, is a major step forward to
definitively stop the illegal practice and alarming increase of dumping in the Nigerian economy.
He further stated: “Nigeria commends King
and Spalding for its pro bono support and very much looks forward to a
technically solid partnership to establish a rules-based trade remedy
infrastructure for Nigeria in 2018.”
On his part, Crosby said: “Nigeria boasts
as one of Africa’s most ambitious and exciting economies. The Nigerian
government’s commitment to economic and social development, while
nurturing local businesses and industries is an important one.
“We’re extremely pleased to be able to
collaborate on a pro bono basis with the Nigerian Office for Trade
Negotiations (NOTN) to help establish a World Trade Organisation
(WTO)-consistent trade remedy system that will promote free and fair
trade while protecting local entrepreneurs and keeping the country
competitive as it integrates further into global markets.”
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