Nigeria restates commitment to deepen trade relations with China

Abuja, June 6, 2023 (NAN)The Federal Government has stated its commitment to further strengthen its trade and economic relations with the People’s Republic of China.

The Permanent Secretary, Ministry of Industry, Trade and investment, Dr Evelyn Ngige said this when Mr Zhang Guanbin, Deputy Director-General, Department of Trade, Ministry of Commerce, People’s Republic of China visited her in Abuja.

She emphasised that boosting the trade ties would improve trade volume between Nigeria and China which stood at over 12.03 billion US dollars in 2021.

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 a significant bilateral trade between Nigeria and China, as well.

Earlier, the Deputy Director-General, Department of Trade, Ministry of Commerce of the People’s Republic of China and leader of the delegation, Mr Zhang Guanbin commended the Federal Government for the trade cooperation between the two countries.

He said that a working group between Nigeria and China would help achieve greater results.

According to him, Chinese investors in Nigeria believe in Nigeria’s business environment and seek to enlarge their business investment in the country.

He said that China is working on the implementation of agreements reached by the leaders of the two countries.

Guanbin extended an invitation to the Nigerian Government for participation at the International Co-operation Forum in China scheduled to hold in October 2023.

On his part, the Director of Trade in the Ministry, Mr Suleiman Audu said that the ministry had put in place processes of re-invigorating the working group in trade.