ABUJA (AFP) — Benin's President Boni Yayi on Tuesday sought the cooperation of his Nigerian counterpart President Umaru Yar'Adua's on ways to mitigate the impact of the global financial crisis on their countries.

After the meeting of the two leaders, Yayi told journalists at a joint news conference that he was in Nigeria to discuss the serious problem with his host.

"The situation is critical in Benin," he said without giving details.

"I told him (Yar'Adua) it is time to strengthen our relationship in this period of financial crisis," said Yayi.

Yar'Adua said they had "discussed the issues of bi-national interests, in particular the effects of the global financial crisis on the two countries."

The Nigerian president said both countries agreed to convene a bi-national commission which would examine the issue and recommend measures to tackle it.

It is widely believed that the economy of Benin is largely dependent on Nigeria, its eastern neighbour.

Nigeria imports rice, vegetable oil, used vehicles and clothes from Benin, which in turn imports mostly basic household goods and beverages from its bigger neighbour.

Benin in August 2003 pleaded with Nigeria to reopen its land borders shut briefly over allegations of failure by Cotonou to check acts of banditry on its side of the frontier.

The borders were later opened after a meeting between then presidents Mathieu Kerekou and Olusegun Obasanjo.


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