The United Kingdom and Nigeria are on the brink of finalizing a groundbreaking partnership agreement that will enable British legal practitioners to establish businesses and offer services within Nigeria.
In a press release published on Tuesday, both nations revealed their intention to formalize a collaboration aimed at fostering trade, investment, and unlocking fresh opportunities for mutual growth.
The partnership, which extends beyond financial realms, seeks to capitalize on the already thriving $7 billion partnership between the UK and Nigeria.
According to the UK’s Department of Business and Trade, the impending agreement signifies a significant milestone in bolstering cooperation between the two countries.
The deal tagged the Enhanced Trade and Investment Partnership (ETIP), marks the first instance of the UK entering such an agreement with an African nation.
British Business and Trade Secretary, Kemi Badenoch, emphasized the vast potential this partnership holds for British enterprises, noting that Nigeria’s status as one of the continent’s fastest-growing economies.
“This partnership with Nigeria, the UK’s first with an African country, will allow us to work together and seize the opportunities that lie ahead. Nigeria has one of the fastest-growing economies in the world.
“UK businesses have already seen huge success here and I look forward to seeing how we continue to grow this relationship,” Kemi Badenoch added.
Moreover, the agreement will see Nigeria committing to initiatives aimed at dismantling barriers that hinder UK lawyers from practicing international and foreign law within the West African nation.
“It will see Nigeria commit to working towards removing barriers preventing UK lawyers from practicing international and foreign law in Nigeria, a step that could significantly increase UK legal services exports,” the release added.
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