Nigeria, Benin Republic Hold Strategic High-level Meeting on Trade Relations

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On trade harmonisation matters, the government of Benin Republic has made presentations on enhancing bilateral trade between Nigeria and the Benin Republic; it also stated its position concerning implement measures in other areas.

Strategies to strengthen the Customs Union between the two countries, and establishing a relationship of trust through collaboration, as well as joint training, are some of the key issues contained in the proposal.

The government of Benin Republic also requested for personnel exchanges between the Apex banks of the two countries, and deepen the legal framework applicable to facilitate debt recovery.

They also proposed the creation of a permanent joint technical committee with extended powers aimed at the implementation of ministerial consultations on the enforcement of the bilateral agreement, political anchoring and establishment of a clear and transparent governance structure among other channels of implementation as part of measures to achieve these frameworks.

A statement from the Federal Ministry of Finance said this was stated in a meeting by the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, after the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, came back from leading Nigeria’s delegation to Benin Republic for a meeting on boosting bilateral trade relations.

The minister said: “In Benin Republic, the host President Patrice Talon granted a brief audience to the Nigerian delegation where he urged the Ministers to give the bilateral meeting the desired impetus already established by himself and his Nigerian counterpart, President Ahmed Bola Tinubu.”

After the presentation from Benin Republic, the host Minister of Finance and the Economy, Mr. Romuald Wadagni, reiterated the significance of upholding and maintaining the firm resolve of the Presidents of both countries in ensuring the strengthening of trade relations, adding that setting up a technical committee will be a one-stop shop for handling issues related to Nigeria and Benin Republic.

In his response, Mr. Edun appreciated President Patrice Talon for his moral support and enthusiasm; he also appreciated the Beninese Government for the audience and hosting of the meeting, adding that the political will that was displayed was beyond 1question.

He further emphasised that the task at hand was to seek efficient means of implementing the ideas of the leaders of the two countries; he therefore proposed that the Finance Ministers of Nigeria and Benin jointly head the proposed permanent committee.

Head of Press and Public Relations in the Federal Ministry of Finance, Helen Oby Chukwu, said Nigeria has strengthened its diplomatic and economic relations with the Republic of Benin, noting that the Nigerian delegation consisted of the Charge d’ Affaires a.i, Nigerian Embassy in Cotonou, Ambassador Saidu N. Tiggi, and the Comptroller of Customs, Seme Command.

Also including the host Minister of Foreign Affairs, Ambassador Shegun Adjadi Bakari, the Minister of Trade and Commerce, Ms. Assouman Shadiya, the Minister of Justice and Legislation, and the Beninese Director General of Customs on the side of Benin Republic.

 

 

 

 

 

 

 

 

 

 

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