Nigeria, Switzerland sign legal pact to end dumping

Nigeria, Switzerland sign legal pact to end dumping

AS a key element of modern trade policy, the Federal Government, Tuesday, entered into agreement with leading trade law firm, King and Spalding, LLP, of Geneva, Switzerland, to provide legal services for Nigeria’s trade remedy legislation.

The Chief Negotiator, and Director General, Nigerian Office for Trade Negotiations (NOTN), Ambassador Chiedu Osakwe, signed for the Nigerian Government, Daniel Crosby, did for King and Spalding.

Under the terms, 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.

A statement signed in Abuja, from the Ministry of industry, Trade and Investment, said the company’s services are on a pro bono basis, which is supposed to be for public good and non-profit.

Chisakwe noted that Nigeria has been grappling unsuccessfully with increased cases of dumping and other injurious imports into the economy. This, in his view, is 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 rule-based global economy.

He was quoted as saying: “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 illegal practice and alarming increase of dumping in the Nigerian economy.”

Guardian

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