Honorable Abbas Tajudeen, the Speaker of the House of Representatives, has advocated for stronger trade and technological ties between Nigeria and the Republic of South Korea. He specifically emphasized the importance of increased investments from the Asian nation in Nigeria’s energy and mining sectors.
Speaker Abbas made this appeal during a meeting at his office in Abuja on Tuesday, when a delegation from the South Korean Embassy to Nigeria and the 21st National Assembly of the Republic of South Korea visited him. The purpose of their visit was to seek Nigeria’s support for South Korea’s bid to host the World Expo 2023.
The Speaker highlighted that during the 9th House’s tenure, a Nigeria-South Korea Parliamentary Friendship Group was established with the aim of enhancing the exchange of ideas, legislative practices, and procedures. This endeavor also encompassed parliamentary exchange programs designed to bolster the capacity development of both members and staff.
He conveyed, “An agreement was reached to initiate a treaty addressing double taxation concerns related to businesses operating in both Nigeria and South Korea. Although this treaty was approved by the National Assembly, it did not receive the assent of the then President of Nigeria. The 10th House of Representatives is committed to revisiting this double taxation bill to eliminate barriers that hinder smooth investments in both countries.”
“The 10th House has also reconfigured the Nigeria-Korea Friendship Group to expand the scope of our parliamentary relationships. This effort seeks to foster mutual understanding and cooperation in realms such as capacity development and investments,” he continued.
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“With the presence of more than 20 Korean companies in Nigeria, including notable names like Samsung, LG, and Daewoo, along with investments exceeding $2 billion, the contributions to Nigeria’s economy are significant. The recent provision of a vessel to the Nigerian Navy by the Korean Government serves as confirmation of the deep-rooted mutual relations that the 10th House is determined to sustain,” he affirmed
The delegation included the Ambassador of South Korea to Nigeria, Kim Young-Chae, who headed the representatives of the Foreign Mission. Additionally, Hon. Lee Hun-Seung, the Special Envoy of the National Assembly of the Republic of South Korea, led the contingent of the country’s parliament members.
From the House of Representatives, notable attendees comprised the Minority Whip, Ali Isa; Abdulmumin Jibrin, Chairman of the House Committee on Foreign Affairs, along with several other House members.