In a move to improve bilateral ties, the Nigeria Customs Service (NCS) has signed a significant Memorandum of Understanding (MoU) with the General Administration of Customs of the People’s Republic of China (GACC).
The NCS led by Comptroller-General of Customs (CGC) Adewale Adeniyi and its management team convened in Shenzhen on Wednesday to formalize the agreement.
Furthermore, CGC Adeniyi emphasized the role of this partnership in improving import-export operations between the two nations and promoting the interests of Nigerian Micro, Small, and Medium Enterprises (MSMEs).
Expressing gratitude to the Vice Minister Wang Lingjun of the GACC for their keen interest in collaborating with the NCS, Adeniyi highlighted the opportunities in e-commerce, noting its significance for Nigerian businesses.
He said: “We know a lot of Nigerian companies and SMEs take advantage of the opportunities aided through e-commerce.”
However, the CGC, who expressed optimism about the MoU being crucial for the cooperative security, said: “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.”
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Similarly, he highlighted the substantial trade volume between Nigeria and China, acknowledging the need to address informal trade practices while emphasizing the importance of formalizing trade channels for sustainable growth.
He said: “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.”
