Nigeria signs legal agreement to fight dumping, injurious imports

King and Spalding service is on a pro bono basis.

Temitope Joseph | Tuesday, 09 January 2018 5:11pm | business

The BusinessPost

The Nigerian office for trade negotiation, NOTN on Tuesday has entered into an agreement with leading trade law firm, King and Spalding, LLP to provide legal services for Nigeria’s trade remedy legislation as a key element of modern policy.

Signed in Geneva, Switzerland by Daniel Crosby, Chief Negotiator for King and Spalding and Director General of the trade negotiation for Nigeria, Chiedu Osakwe, the law firm 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 service is on a pro bono basis. Commenting, Osakwe noted that Nigeria has been grappling unsuccessfully with increased cases of dumping and other injurious imports in the economy.

This, he explained is undermining serious efforts of the Federal Government to support local manufacturers and services 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. The legal services and technical support to be provided by King and Spalding is a major step forward to definitively stop this legal practice and alarming increase of dumping in the Nigerian economy.

"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” Osakwe stated.

On his part, Crosby added: “Nigeria boasts one of Africa’s most ambitious and exciting economies. The Nigerian government commitment to economic and social development while nurturing local businesses and industries is an important one".

“We are extremely pleased to be able to collaborate on a pro bono basis with the Nigerian office for trade negotiation, NOTN to help establish a WTO consistent trade remedy system that will promote free and fair trade while protecting local entrepreneurs and keeping the country competitive as its integrates further into global markets”, he concluded.