Nigeria, Korea To Intensify Collaboration On Shipping, Trade

Nigeria and South Korea have agreed to intensify their collaboration on trade and shipping

The Nigerian Maritime Administration and Safety Agency (NIMASA) disclosed this on Thursday in a statement signed by Mr Philip Kyanet, its Head, Corporate Communications.

The statement was on a meeting Jamoh held with the Counsul General, Embassy of the Republic of Korea in Nigeria, Kim In-Taek.

Jamoh said that both countries had maintained good maritime and trade relations since the 1980s.

He said that both had agreed on the need to expand the relationship in line with global economic dynamics.

The director-general said that development of Nigeria’s maritime potential was a critical element of President Muhammadu Buhari’s economic diversification agenda.

He said that the Republic of Korea was an important partner in the effort to harness the enormous treasures of Nigeria’s marine environment.

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“There is a great deal of interest in harnessing our rich maritime resources and potential as new sources of government revenue under the Nigerian government’s economic diversification drive, and we see South Korea as very important here.

“We have been together on trade, power, and energy and now we are discussing on possible areas of cooperation in terms of ship repairs and ship recycling and we agreed that we will continue to improve on trade cooperation.”

“To consolidate on the already existing relationship and increase our trade and maritime cooperation, we hinted on the need for more effort from both countries,” he said.

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The director-general reiterated that shipping development was part of his administration’s three-point agenda, which also include maritime safety and maritime security.

In his own remarks, In-Taek described NIMASA as a very important organisation, adding that Korea was willing to develop a good relationship with the Nigerian maritime sector.

“Nigeria has the potential because it is a leading country, not only in the shipping area, but also in other businesses in Africa.

“Nigeria has a big economy, with the population as an added advantage in the continent, hence, the Koreans can do business with Nigeria successfully,” he said.

In-Taek, who is nearing the end of his two-year tenure in Nigeria, thanked the Korean authorities for giving him the opportunity to serve in Nigeria.

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He called on the NIMASA director-he neral to extend the cooperation accorded him to his successor.

Korea is a leading shipbuilder in the world, accounting for nearly 40 per cent of global ship orders.

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