The federal government of Nigeria is prioritising the Digital Economy, Gas Development, mining as well as Agriculture and Agro-Allied Industries as it looks to further strengthen bilateral relations with China.
This was disclosed by Evelyn Ngige , permanent secretary of the Federal Ministry of Industry, Trade and Investment (FMITI) while speaking at the China (Changsga) – Nigeria Investment, Economic and Trade Promotion Conference in Abuja on Thursday.
Ngige said since 1971, China and Nigeria have enjoyed mutually beneficial bilateral trade and economic cooperation in various sectors, adding that in 2021 trade between both nations stood at over $12.03 billion dollars.
“The Federal Government remains committed to providing a sustainable platform for cooperation, which will help us collectively achieve our common goals for mutual benefit of Nigeria and China,” she said.
Speaking on strengthening the bilateral relationship between both countries, the PS who was represented by Suleiman Audu, director of trade, FMITI said that the federal government through the Nigeria Export Promotion Council (NEPC), is scheduled to launch the Export Trading House in China this week from 19th – 22nd April, 2023.
“The FG has also launched the Export Trading House in Egypt, Kenya and Togo; The choice of China was deliberate, as China is one of the world’s top strategic trading partners, through the Export Trading House, the volume of export and feasibility of seeing Nigeria’s products and market share with countries will be enhanced,” she said.
The PS also spoke on the upcoming China – Africa Economic and Trade Expo (CAETE), scheduled to hold in Changsha, Hunan, China from 29th June – 2nd July, 2023.
“it is strategic for Africa and Asia, to further improve collaborations and deepen economic relationships, the world is changing rapidly with emerging global events, and economic and trade alliances are strategic for prosperity,” she said.
She also announced that a Domestic Warehouse Initiative, which is a one-stop facility or terminal, for storage of products, packaging and branding in preparation for ultimate transportation to Ports has been launched.
This initiative, she said, was set-up to eliminate logistics challenges, which Nigerian exporters faced.
Kang Zhenlin, deputy mayor of Changsha Municipal People’s Government and Chairman of Changsha Federation of Industry and Commerce in his remarks said that Hunan has 3 trillion industries of equipment manufacturing, raw materials and consumer goods, 16 hundred billion industries of electronic information, automobile and steel, among other developed industries.
“Hunan and Nigeria have a good cooperation foundation and great potential for cooperation; We sincerely hope that the two sides will continue to strengthen exchanges and cooperation in economy, culture and tourism, build bridges of friendship and talk about a bright future together,” he said.
Zhenlin said the trade expo has become an important way to strengthen economic and trade cooperation between China and African countries.
“We sincerely hope that with this event as a new starting point, we can further deepen communication and friendship with the Nigerian government, entrepreneurs and investors, and strengthen cooperation for mutual benefit and win-win situation,” he said.