NIGERIA CUSTOMS SIGNS PACT WITH INDIA ON CROSS-BORDER TRADE

The Nigeria Customs Service (NCS) has signed a Customs Mutual Administrative Agreement (CMAA) with its Indian counterpart to bolster cross-border trade development. The agreement, as disclosed in a statement by the NCS, was signed at the Ministry of Foreign Affairs in Abuja. The Comptroller-General of Customs, Adewale Adeniyi, who represented the NCS at the event described the milestone achievement as culminating from negotiations that began in 2016.

He stated, “The agreement is expected to enhance collaboration between customs administrations, streamline border clearance processes, and curb customs-related offences.

“By facilitating the swift clearance of goods and reducing trade costs, the CMAA is set to bolster cross-border trade development and improve the enforcement of customs laws.”

Key provisions of the CMAA, as outlined in the MoU, include enforcement of customs laws by ensuring the accurate imposition of duties and taxes, verification processes through the facilitation of proper classification, valuation, and determination of goods’ origin, prevention and investigation by strengthening mechanisms to combat customs offences.

Other items in the CMAA are information exchange through the establishment of robust channels for communication and mutual assistance, including providing expert witnesses where necessary.

According to the NCS, the agreement underscores Nigeria’s commitment to fostering international trade partnerships while reinforcing the integrity and efficiency of its customs operations. By collaborating with India on customs enforcement and trade facilitation, Nigeria aims to unlock new economic opportunities and deepen its global trade integration.

Leave a Reply