Trade between Nigeria and China has reached $8.6billion
in the first half of 2019, according to Chinese Consul-General in Lagos, Chu
Maoming, who also said the ties between the two countries are waxing stronger
by days.
Maoming , who spoke on the occasion of China
Shandong Export Commodities Special Day at the ongoing 33rd Lagos International
Trade Fair, said Chinese companies are very willing to invest in Nigeria as
part of the recent bilateral agreements between the two countries.
Shandong is one of 33 provinces in the People’s
Republic of China.
The Consul-General said the Chinese private sector
investors have concluded plans to increase the volume of trade with Lagos to
the tune of billions of dollars, adding that the investment would result in job
creation and knowledge transfer among other things.
He said with a contribution of 33 per cent to the
world economy, China has become a strong actor in the global economy, adding
that it was the outcome of commitment of the people and leadership of China.
The President of Lagos Chamber of Commerce and
Industry (LCCI), Babatunde Paul Ruwase, who acknowledged the burgeoning
relationship between Nigeria and China, said the ties are beginning to yield
positive results as has been attested by the $3.9 billion contract the federal government
signed in October 2019 with the China Railway Construction Corporation Limited
for the construction of a new Abuja-Itakpe-Lokoja rail line.
Similar ongoing projects such as Mambilla Power
Project, Lagos-Calabar coastal railway line and Zengeru Hydropower Plant are
outcome of the growing bilateral corporation between Nigeria and China.
Ruwase also cited the recently signed $629 million facility
by the Lagos State Government with China Development Bank (CDB) for the
completion of Lekki Deep Seaport Project.
He said the China has become a key player in the global
economy, adding that its contributions should not be taken lightly.
According to him, "Permit me to say that the Chinese
economy has shown resilience and great potential amid the twist and turn of
economic globalisation,” he said, adding that with a population of about 1.4
billion people, China can be described as promoter of globalisation.
He advised the Chinese companies to take steps to address the
issue of substandard products from China, saying it has the implication of
negative image for the country.
About 100 companies from Shandong Province are participating
in the 10-day Lagos business showpiece. They came to explore business
opportunities in Nigeria with interests in agriculture, automobile, chemical,
information technology, food and beverage among others.
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