The Nigeria Customs Service (NCS) has signed a Memorandum of Understanding (MoU) with the General Administration of Customs of the Peopleâs Republic of China (GACC) to foster bilateral relationship for the enhancement of economic growth.
The comptroller general of Customs, Adewale Adeniyi led some of his management team in Shenzhen, last Wednesday, where he highlighted the significance of knotting bilateral affiliation with China, which, according to him, will boost the two countriesâ import-export operations and favour the businesses of MSMEs in Nigeria.
The CGC appreciated the vice minister of the General Administration of Customs of the Peopleâs Republic of China, Wang Lingjun, for showing interest in signing the MoU with the NCS. He also applauded the recent exponential rise in the development of e-commerce, adding, âWe know a lot of Nigerian companies and SMEs take advantage of the opportunities aided through e-commerce.â
CGC Adeniyi expressed optimism that the NCS-GACC Memorandum of Understanding will serve as a critical component of cooperative security and trade relationship between the two nationâs Customs agencies, reiterating that âThe 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.â
âThese 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 âyour export is our importâ. 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.â CGCÂ Adeniyi said.
Mr Wang Lingjun of the General Administration of Customs, who represented Vice Minister Sun Yuning, and signed the MoU on behalf of the Peopleâs Republic of China, expressed satisfaction over CGC Adeniyiâs vision that the affiliation between two agencies will serve as a mechanism for creating opportunities that Nigeria and China share on a wide range of economic issues and trade facilitation.
