Nigeria-China Bilateral Trade Cooperation Hits Over $2.7bn

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Nigeria-China bilateral trade cooperation has hit over $2.7billion as of 2017, which makes Nigeria the third largest economic partner of China in Africa.

This was revealed by Prince Adetokunbo Kayode , the President of Abuja Chamber of Commerce and Industry (ACCI), at the Annual Reception held by the Chinese Economic and Commercial Counselor, Zhao Linxiang at the Embassy of People’s Republic of China in Abuja.

Kayode noted the several milestones recorded in Nigeria in the immediate past in the rail, airport and roads infrastructure development which were made possible with the support of China.

He described the economic and diplomatic ties with China and Nigeria as one that has impacted positively on both nations emphasising that it must be maintained, noting that such bilateral economic cooperation should be deepened.

 

According to him, “The next stage of economic engagement between Nigeria and China must be about practical industrial development.

“We are ready to partner with China to establish Industrial Parks for various industrial sectors all over Nigeria.”

He further stated that, the China principle of matching one province with one state in Nigeria was a good attempt at industrial development that would open and create more opportunities for Nigerians and impact positively on the industrial development of the country.

This, he said, was in the spirit of the Belt and Road Policy of the Chinese government which if implemented properly would further enhance close cooperation and indeed Chinese influence in Nigeria.

While advocating win-win cooperation, he enjoined the Nigerian business community to work closely with China in areas of mining, agriculture, power; automobile, general manufacturing, telecommunication, science and technology which he said are driven by genuine technical touch.

The President of the Abuja Chamber promised to use his three-year tenure to open up more vistas in a manner that will further catapult trade relations of both countries to greater heights.

 

Earlier in his speech, Mr. Zhao Linxiang, the Economic and Commercial Counsellor of the Embassy, noted with satisfaction the cordial relationship between the countries pointing out that the more visible aspect of Nigeria’s relations with China is in the areas of construction-roads, airports and the railway financed through accepted liberal terms.

Linxiang further said that, to push forward the desire to overcome immense infrastructural challenge, his country was spearheading efforts to support Nigeria through a funding arrangement that eases the pressure on the country’s financial situation.

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