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HomeAfricaNigeria: Bilateral trade between China, Nigeria hits US$210b

Nigeria: Bilateral trade between China, Nigeria hits US$210b

Bilateral trade between Nigeria China over the years has hit US$210 billion, according to the Consul-General of Peoples Republic of China in Nigeria, Liu Khan.

The private Guardian newspaper reported on Wednesday that the Chinese envoy gave the figure during the Energy Environment and Investment Forum in the southern Nigerian oil city of Port Harcourt on the theme, “Sustainable Energy – Key to Africa’s world integration.”

Liu, while putting the trade relationship between the two countries last year at US$13.6 billion, expressed optimism of increased dealings in the next few years.

He said the Asian nation was vigorously committed to its business partnership with African countries, particularly Nigeria, adding that this relationship over the years had supported the political terrain and upheld the economic survival of the countries.

The envoy noted that Nigeria was now China’s seventh export market and the most important investment destination for China in Africa.

He said that China’s financial investment in Africa amounted to US$20.5 billion, covering petroleum, free trade zones, manufacturing and agriculture, among others.

The Consul-General said China/Africa cooperation had contributed to about 20 per cent of Africa’s growth.

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