The Federal Government has signed an agreement with a high ranking trade law firm, King and Spalding, LLP Geneva, Switzerland, to make available legal services for Nigeria’s trade remedy legislation, as a major element of modern trade policy.
The agreement was signed in Geneva by Chief Negotiator, Mr. Daniel Crosby for King and Spalding and Director General of the Nigerian Office for Trade Negotiations (NOTN), Ambassador Chiedu Osakwe for Nigeria
King and Spalding is expected to assist in the drafting of Nigeria’s trade remedy law and also prepare a legal brief on the rationale and requirements for the legislation, which will effectively put an end to dumping on the Nigerian market.
Osakwe explained that Nigeria has been struggling with heightened cases of dumping and other injurious imports in the nation’s economy.
Hence the dumping is undermining tactical efforts of the Federal Government to assist local manufacturers and service providers to competitively grow the economy through integration to global value chains, in a rules-based global economy, Osakwe added.
The ambassador included that dumping in the Nigerian market is unlawful and anti-development.
The legal services and technical support to be provided by King and Spalding, are on a pro bono basis. The partnership is a great step forward to effectively end the illegal practice and worrisome 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.