Nigeria, Korea to deepen cooperation in shipping

  • NIMASA Director General, Dr. Bashir Jamoh (left), in an elbow bump with the Consul General, Embassy of the Republic of Korea, Kim In-Taek, after a meeting in Lagos

In line with global economic dynamics, Nigeria and South Korea have agreed to expand their relationship in trade and shipping development.

Speaking with newsmen in Lagos after his meeting with the Consul General, Embassy of the Republic of Korea, Kim In-Taek, the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, said that the development of Nigeria’s maritime potential was critical to the nation’s economic diversification agenda.

Jamoh, who noted that both countries have maintained good maritime and trade relations for decades, described the Republic of Korea as an important partner in the effort to harness the enormous treasures of Nigeria’s marine environment.       

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

“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 agreed to continue to improve on trade cooperation.”

Citing shipping development as part of his administration’s three-point agenda, Jamoh stressed the need for more efforts from both countries.

This is “to consolidate on the already existing relationship and increase our trade and maritime cooperation, especially in the areas of ship-building, ship repairs and ship recycling, among other aspects of shipping development. Interestingly, we are agreed on the need to improve cooperation in these areas.”

On his part, In-Taek stated Korea’s willingness to develop a good relationship with the Nigerian maritime sector, adding that “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.”  

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

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