Nigeria and South Korea have agreed to intensify and expand their collaboration in bilateral trade and shipping development in line with global economic dynamics.
This agreement was reached in Lagos during a meeting between Bashir Jamoh, director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA), and Kim In-Taek, consul general, Embassy of the Republic of Korea in Nigeria.
According to a statement by Philip Kyanet, head, Corporate Communications of NIMASA, Jamoh said that development of Nigeria’s maritime potential was a critical element of President Muhammadu Buhari’s economic diversification agenda.
Jamoh, who stated that the Republic of Korea was an important partner in the effort to harness the enormous treasures of Nigeria’s marine environment, said there is a great deal of interest in harnessing the nation’s rich maritime resources and potential as new sources of government revenue under the Nigerian government’s economic diversification drive.
“The relationship between the two countries dates back to the 1980s. We have been together on trade, power, and energy. And in the meeting I had with In-Taek, we discussed possible areas of cooperation in terms of ship repairs and ship recycling and we agreed that we will continue to improve on trade cooperation,” Jamoh said.
To consolidate on the already existing relationship and increase trade, he noted, that there is need to put more efforts by both countries. “Interestingly, we are agreed on the need to improve cooperation in areas like shipbuilding, ship repairs, and ship recycling among others.”
He reiterated that shipping development was part of his administration’s three-point agenda, which also includes maritime safety and maritime security.
In his remarks, In-Taek described NIMASA as a very important organisation, saying Korea is 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. He called on the NIMASA Director-General 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.
