The Federal Government has entered into an agreement with a leading trade law firm, King and Spalding, LLP Geneva, Switzerland, to provide legal services for Nigeria’s trade remedy legislation, as a key element of modern trade policy.
The agreement was signed in Geneva by Chief Negotiator and Director General of the Nigerian Office for Trade Negotiations, Ambassador Chiedu Osakwe for Nigeria and Mr. Daniel Crosby for king and Spalding.
The trade 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 services are on a pro bono basis. Osakwe noted that Nigeria has been grappling unsuccessfully with increased cases of dumping and other injurious imports in the economy.
This, in his view was undermining serious efforts of the federal government to support local manufacturers and service providers to competitively grow the economy through integration to global value chains, in a rules-based global economy.
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 was an important one.
He stated that his firm was extremely pleased to be able to collaborate on a pro bono basis with the Nigerian office for trade negotiations to help establish a world trade organisation-consistent trade remedy system that will promote free and fair trade while protecting local entrepreneurs and keeping the country competitive as it integrated further into global markets.