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Home Features Nigeria, China Customs Sign MoU on Trade Enhancement
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Nigeria, China Customs Sign MoU on Trade Enhancement

By
Abdullahi Maiwada
-
May 12, 2024
Comptroller-General of Customs and Mr Wang Lingjun of the General Administration of Customs in China
Comptroller-General of Customs and Mr Wang Lingjun of the General Administration of Customs in China

Nigeria, China Customs Sign MoU on Trade Enhancement

The Nigeria Customs Service (NCS) has signed a Memorandum of Understanding (MoU) with the General Administration of Customs of the People’s Republic of China (GACC) to foster bilateral relationship for the enhancement of economic growth.

On Wednesday, 8 May 2024, Comptroller-General of Customs (CGC) Adewale Adeniyi led some of his management team in Shenzhen, where he highlighted the significance of knotting bilateral affiliation with China, which, according to him, will boost the two countries’ import-export operations and favour the businesses of MSMEs in Nigeria.

The CGC appreciated the Vice Minister of the General Administration of Customs of the People’s Republic of China, Wang Lingjun, for showing interest in signing MoU with the NCS. He also applauded the recent exponential rise in the development of e-commerce, adding, “We know a lot of Nigerian companies and SMEs take advantage of the opportunities aided through e-commerce.”

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CGC Adeniyi expressed optimism that the NCS-GACC Memorandum of Understanding will serve as a critical component of cooperative security and trade relationship between the two nation’s Customs agencies, reiterating that “The relationship will create a cooperative mechanism for NCS and the GACC to collaborate on supply chain security standards and enhance the economic stability of both nations.”

“These are some of the many reasons why Nigeria Customs Service pays attention to what is happening in China. As you have said, China is making the biggest trade in Nigeria, and the basic context of International Trade is ‘your export is our import’. I appreciate the numbers that you gain in Nigeria. But it is also common knowledge that those numbers sometimes must take account of the large volume of informal trade that exists between us.” CGC Adeniyi said.

Mr Wang Lingjun of the General Administration of Customs, who represented Vice Minister Sun Yuning, and signed the MoU on behalf of the People’s Republic of China, expressed satisfaction over CGC Adeniyi’s vision that the affiliation between two agencies will serve as a mechanism for creating opportunities that Nigeria and China share on a wide range of economic issues and trade facilitation.

 

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Troops Clear Boko Haram Strongholds in Borno, Eliminate Terrorists, Recover ArmsKainji Mass Trials: FG Moves to Clear Terrorism Cases, Uphold Rule of Law7 Smart Google Search Tips That Will Save You Hours By Shuaib S. Agaka | Tech DigestFG: Over 300,000 Students Back in School Thanks to Tinubu’s ReformsNIPR Moves to Blacklist Quacks from Government PR ContractsWike Launches "Operation Sweep" FCT of Beggars and ScavengersTwo Killed, Gunman Neutralized as Police Battle Armed Attackers in AnambraTRADOC Commander Tasks Army Training Schools to Own Doctrine, Drive TransformationSecurity Forces Nab 13 Suspects for Kidnapping, Banditry, Cattle Rustling in Kaduna, AbujaMilitary Warns Vigilantes Against Unauthorized Operations in Plateau, Confirms 8 Deaths in Kanam AmbushGov. Mutfwang Hails NSCDC Boss Audi as 150 Agro-Rangers Graduate in PlateauIllegal Mining: EFCC Arrests 5 Chinese, 4 Nigerians in NigerUAE Bans Transit Visas for Nigerians, After US Visa RestrictionsNigerian Troops Destroy Terrorists' Enclaves across Theatres of OperationArmy Intercepts Truckload of Vandalised Railway Tracks, Arrests 8 Suspects, Recovers Cash in Yobe
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