Determined to strengthen bilateral relations, Nigeria and India have sealed a Customs Mutual Administrative Agreement, CMAA, in Abuja.
The agreement formed part of the engagements by the two countries during the state visit of the Indian Prime Minister, Narendra Modi on Sunday.
The Comptroller-General of Customs, Bashir Adeniyi described the CMAA as a milestone achievement, culminating from negotiations that began in 2016.
“This agreement is expected to enhance collaboration between customs administrations, streamline border clearance processes, and curb customs-related offenses.
“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,” said the CGC while putting pen to paper.
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 offenses.
Besides, the CMAA provides for exchange of information through the establishment of robust channels for communication and mutual assistance, including providing expert witnesses where necessary.
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.
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