• Thursday, June 13, 2024
businessday logo

BusinessDay

China pledges increased economic cooperation with Nigeria

China pledges increased economic cooperation with Nigeria

Chinese President XI Jinping on Wednesday, pledged increased economic cooperation with Nigeria, saying the country is important to Africa and the world.

In a statement by the President’s Media team, signed by Tunde Rahman, on Wednesday, said the Chinese President spoke through his Special Envoy, Peng Qinghua, Vice Chairperson, Standing Committee of National People’s Congress, People’s Republic of China who met with President Bola Tinubu at the State House, Abuja on Wednesday.

Nigeria is also one of the African countries attracting the most investment from China.

Over the years, Nigeria’s relationships with China, has grown trade between the two nations, with Nigeria being China’s third largest trading partner in Africa.

This is as China is also Nigeria’s largest source of imports. Investment and contracted projects inject impetus for cooperation.

Recall that the Chinese government had dispatched a high power delegation to attend President Bola Tinubu’s inauguration at the Eagle Square, led by Peng Qinghua.

Qinghua said the two countries at present had good bilateral relations and economic cooperation, noting that Chinese companies were doing well in Nigeria in railways, roads, hydropower and free trade zones.

Read also: Why Tinubu didn’t wait till June to implement Subsidy removal

While commending President Tinubu’s plan to lead Nigeria to a new era of economic development and prosperity, the Chinese envoy, however, said there were areas where Nigeria could benefit from China.

He called on the two countries to share ideas and align strategies, urging President Tinubu to also create more conducive environment for investment.

Responding, President Tinubu said Nigeria is open for business and constructive partnerships, and would do business with any country ready to do business with the country.

He promised that his administration would work to promote ease of doing business.

He said: “We need accelerated growth and we are ready to do business honestly with those ready to do business with us.

“We will continue to work to promote democracy in the West African sub-region. I’m a product of democracy and shall work day and night to advance democracy.

“We will fight terrorism and all forms of criminality. We can learn from each other, but we will remain non-aligned.”

The Chinese delegation included her Ambassador to Nigeria, Cui Jianchun and Minister-Counselor Zhang Yi.