The Federal Government has assured Chinese Investors of a continuous, robust Bilateral Trade between both Countries in a statement signed by the Deputy Director Press, Oluwakemi Ogunmakinwa on Sunday in Abuja.
Minister of State for Industry,Trade and Investment, Amb. Mariam Yalwaji Katagum said this when a team of Chinese Investors from Hunan Province, China led by the Chinese Deputy Mayor, Mr. Kang Zhenlin paid a courtesy visit to the Minister in Abuja.
Katagum appreciated the choice of Nigeria by the Province of Hunan in terms of Investment and Trade.
The Minister informed the delegation that Nigeria has played a significant role in National and Continental Economic Development via the African Continental Free Trade Agreement (AFCFTA).
Ambassador Katagum said: “Nigeria has a large population with a huge demand for goods and services and it is open for business. We were able to look at how we can attract Foreign Direct Investments, encouraging Investors to come in, Invest and manufacture in our Country within the context of AFCFTA.”
She further noted that, to promote non-oil exports and reduce dependency on crude oil, Nigeria had opened Trade houses in various parts of the World such as in Lome, Togo; Nairobi-Kenya and Cairo, Egypt.
The Nigerian Export Promotion Council (NEPC) recently opened a Trade house in Changsha, the capital of Hunan province, China, to facilitate export of Nigeria products. This would also enhance ease of doing businesses for Nigeria’s Small Enterprises, that do not have the resources to contact large companies in China directly to export their goods and transact Business.
She further added: “Within Africa, Nigeria had continued to be the number one trading partner with China, the volume of trade between both Countries stood at a worth of over 12.3 billion US dollars in 2021.”
Ambassador Katagum promised the Chinese delegation, that the Ministry would participate and mobilize a large number of Nigerian businesses to participate in the forthcoming China-Africa Economic and Trade Expo in China.
The Permanent Secretary in the Ministry, Dr. Evelyn Ngige expressed optimism over the existing bilateral relationship between Nigeria and China and hopes it would be sustained.
Represented by the Director General Services Department, Mrs. Olabisi Lawal, the Permanent Secretary empahsised the commitment of the Ministry and gave an assurance to continue to provide a continuous economic investment guide for prospective investors in line with its mandate.
She said: “… The Government of Nigeria would continue to provide an enabling business environment for Foreign Trade Investments”
Deputy Mayor of Hunan Province, China, Mr. Kang Zhenlin who led the delegation reiterated China’s commitment to building a new mechanism for China-Africa Economic and Trade Cooperation.
He said the purpose of visit, was to strengthen the cooperation between Nigeria and China on trade and bilateral relationships as well as to invite the Ministry to the forthcoming China-Africa Economic and Trade Expo (CAETE) taking place between 29th June to 2nd July, 2023.
China—Africa Economic And Trade Expo (CAETE) is an event held biannually, co-sponsored by the Ministry of Commerce of the People’s Republic of China (MOFCOM) and the People’s Government of Hunan Province.
