Connect with us

Hi, what are you looking for?

NigerianEyeNewsPaperNigerianEyeNewsPaper

Africa

Nigeria, China Seal Arbitration Pact to Boost Trade Ties

In a move to enhance international cooperation and economic ties, the Nigerian Institute of Chartered Arbitrators (NICArb) has signed a historic partnership agreement with the China International Economic and Trade Arbitration Commission (CIETAC).

The signing ceremony was held during the China-Africa International Arbitration Cooperation Conference/China-Africa Trade Export Fair in Changsha, Hunan Province, China, from June 13–15, 2025. The agreement marks a significant step toward fostering stronger arbitration and alternative dispute resolution (ADR) practices between the two countries.

Representing NICArb at the event was its Registrar/CEO, Shola Oshodi-John, who also participated as a keynote speaker and panelist. CIETAC was represented by its Vice Chairman and Secretary General, Wang Chengjie.

This agreement marks a significant milestone in our efforts to strengthen Nigeria’s arbitration and mediation frameworks. Through this partnership, we aim to promote arbitration and mediation as the preferred methods for resolving commercial disputes, especially in international trade and investment,” Oshodi-John stated.

She further noted that the agreement is designed to improve institutional collaboration between both countries. It will involve the exchange of expertise, joint hosting of conferences and seminars, as well as collaborative training programmes to build the capacity of arbitrators in both Nigeria and China.

This is more than a partnership; it’s a commitment to build a resilient dispute resolution framework that supports global commerce. We are optimistic that Nigerian and Chinese businesses will benefit immensely from the efficiency and effectiveness this collaboration promises,” she added.

On the Chinese side, Wang Chengjie expressed similar optimism and appreciation for the new cooperation. “We are delighted to partner with NICArb in this important initiative. By combining our knowledge and experience, we can promote arbitration and mediation as credible and efficient mechanisms for dispute resolution,” Wang said.

He emphasized the significance of this cooperation in boosting economic ties, saying, “This initiative will undoubtedly enhance trade relations between China and Nigeria and help businesses on both sides resolve disputes fairly and professionally.”

Founded in 1979 by the late Bola Ajibola, SAN, a former Judge of the International Court of Justice, NICArb is the premier Arbitration and ADR body in Sub-Saharan Africa. Over the years, it has played a pivotal role in promoting peaceful resolution of disputes and building legal capacities across Nigeria.

CIETAC, with a long-standing reputation as one of the world’s foremost arbitration bodies, has been central to resolving complex international trade disputes for decades. This new agreement is expected to open doors for mutual learning, greater efficiency in cross-border dispute management, and a more integrated legal framework for Nigeria-China trade relations.

As global trade continues to evolve, partnerships like this are being seen as vital for emerging economies to align their legal and business systems with international standards.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Business

Dr. Bello Matawalle, Nigeria’s Minister of State for Defence, is currently in China for a high-level meeting aimed at strengthening Nigeria’s defence capabilities through...

Business

China has responded sharply to the latest U.S. tariff increase, raising its own tariffs on American imports to a record 125%, according to a...

Asia Countries

Nigeria and China are strengthening economic cooperation by removing trade barriers and fostering investment opportunities. The Minister of Foreign Affairs, Yusuf Tuggar, has emphasized...

Economy

London –The United Kingdom has appointed British-Nigerian politician Florence Eshalomi as its new Trade Envoy to Nigeria. Her appointment makes her the second Nigerian...

Copyright © 2023 NigerianEyeNewsPaper.Com. Design by Weforce Digital Technologies