Nigeria, China Moves to Improve $15bn Trade Relations

NEPC
  • Nigeria, China Moves to Improve $15bn Trade Relations

The Federal Government and the government of China are developing strategies to improve the level of trade between both countries, which stood at about $15bn at the end of 2016.

The President, China Chamber of Commerce in Nigeria, Mr. Ye Shuijin, disclosed this during the unveiling of the chamber’s building in Abuja on Thursday.

He said the unveiling of the building would help to strengthen trade relations between both countries, adding that the plan was to increase the level of trade in the next five years.

Shuijin stated that the chamber was doubling its efforts to increase the participation of Chinese investors in Nigeria, noting that about 155 Chinese companies had been registered with the chamber and were currently operating in the country in key sectors of the economy.

Shuijin said, “Under the leadership of the Chinese Embassy and Chinese Economic and Commercial Councillor’s Office, the China Chamber of Commerce currently has a total of 155 member companies covering infrastructure, manufacturing, culture, science and technology, oil and gas, agriculture, mining, investment and other fields, with businesses and projects all over Nigeria.

“The Chamber will guide the development of enterprises and strengthen the close ties between enterprises and the governments.

He added, “The Chamber is the link between Chinese enterprises and Nigeria and we will continue to help more Chinese enterprises to solve the problems and difficulties in the production and operation in Nigeria with its influence.

“The Chamber is also the link between Chinese enterprises, and we will continue to strengthen the communication between enterprises, and share information and business experience for enterprises to grow and develop.”

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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