The China-Nigeria Expo is billed to strengthen trade ties between China and Nigeria. The organisers stated that Nigeria is China’s second-largest trading partner in Africa and China is the country’s largest source of imports.
The expo, which is scheduled for November 5-8 in Lagos, is expected to be the largest gathering of Chinese manufacturers in Nigeria and the West Africa region.
Chinese customs data showed that the bilateral trade volume between China and Nigeria reached $23.9bn in 2022, with China’s exports to Nigeria amounting to $22.3bn and imports from Nigeria totaling $1.6bn.
“In the first three quarters of 2023, bilateral trade stood at $17.25bn with exports to Nigeria being $15.67bn and imports from Nigeria at $1.58bn, marking a 22.5 per cent increase in imports from Nigeria compared to the same period last year. At the Lekki Free Trade Zone and Ogun-Guangdong Free Trade Zone alone, more than $1.5bn has been committed by Chinese investors and over seven thousand jobs have been created,” the statement said.
The statement stated that China’s contributions to Nigeria’s infrastructure included the Lekki Free Trade Zone, Lekki Deep Sea Port, Lagos Blue Line Rail, and rail connections to neighbouring countries to Nigeria for ease of doing business, showcasing the benefits of the Belt and Road Initiative.
The Chief Representative Officer of Brightway International Exhibition, Mr Muheez Ojulari, stated, “In a move to further improve the trade relationship between Nigeria and China, Brightway International Exhibition, the organiser of the annual China Commodities Expo- Nigeria will continue on its part to support the present administration’s laudable initiative as proposed in the eight-point agenda to attract the right investment into Nigeria.
“Thereby, creating job opportunities, eradicating poverty through job creation and employment opportunities, bringing meaningful growth to the economy, attract venture capitalist to support laudable business ideas of our teaming youth.”
Ojulari disclosed that the 2023 edition of the China Commodities Expo held in Lagos featured over 200 best Chinese manufacturers from different sectors to foster international trade collaboration between both great countries.
According to him, the significance of the China Commodities Expo Nigeria, for China-Africa economic and trade cooperation, is multifaceted and it will help to boost trade between both countries.
He added that it will further strengthen the bilateral trade relationship between China and Africa at large.
GIK/APA