Business
Customs, Chinese counterpart sign MoU to enhance economic growth
The Nigeria Customs Service (NCS) and the General Administration of Customs of the People’s Republic of China (GACC) have signed a Memorandum of Understanding (MoU) to foster bilateral relationship between the two countries.
The Comptroller General Of Customs, Adewale Adeniyi, disclosed this in a post on X platform on Sunday.
He said the agreement was signed when he led the Customs management team to Shenzhen on May 8.
According to Adeniyi, the significance of knotting bilateral affiliations with China is to boost the import-export operations between the two countries and favour the Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
He thanked the vice minister of GACC, Wang Lingjun, for showing interest in the agreement with Customs
He also applauded the recent exponential rise in the development of e-commerce.
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“We know a lot of Nigerian companies and SMEs take advantage of the opportunities aided through e-commerce,” Adeniyi stated.
He expressed optimism that the agreement would serve as a catalyst for cooperative security and trade relationship between the two agencies.
The Custom boss added: “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.”
By: Babajide Okeowo
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