New Telegraph

Nigeria, China To Boost Economic Ties

With a trading volume in the range of $12.03 billion in 2022, the Nigerian government and its China counterpart have agreed to deepen trade and economic relations for the mutual benefit of both countries.

The Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Dr Evelyn Ngige stated this yesterday in Abuja when she Deputy Director General, Department of Trade, Ministry of Commerce of the People’s Republic of China, Mr. Zhang Guanbin on a courtesy call.

Both countries agreed that “Nigeria is a land of great opportunities with Natural resources and favourable climate conditions for industrial development and these resources are available to be explored”, a statement issued by Magdarlyn Sende noted.

Dr Ngige noted the Ministry’s pivotal role in Nigeria’s economic development, through the promotion of the non-oil sector which has strengthened economic diversification, domestic and international relations, and significant bilateral trade between Nigeria and China, as well.

Earlier, the Deputy Director-General of the Department of Trade, Ministry of Commerce of the People’s Republic of China and leader of the delegation, Mr Zhang Guanbin appreciated the efforts of the Federal Government at practical cooperation that exists in Trade with Nigeria.

He also suggested a working group between Nigeria and China, will help achieve greater results, stating that Chinese investors in Nigeria believe in Nigeria’s business environment and seek to enlarge their business investment in
Nigeria.

He promised that China is working on the implementation of the agreements reached by the high-level leaders of the two countries.

He, therefore, extended a formal invitation to the Nigerian Government for participation at the International Co-operation Forum in China scheduled to hold in October 2023.

As regards the working group, the Director of Trade in the Ministry, Mr Suleiman Audu said that the Ministry has put in place processes for re-invigorating the working group in Trade, proposing a formation of a technical committee to clarify a number of issues and building consensus.

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