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Thursday 23 September 2021
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Nigeria: Chinese investors plan trade facilitation with Nigerian counterparts

Nigerian investors and their Chinese counterparts have pledged to maintain existing business relationship between both countries through consistent trade promotions and trade facilitation.

The private Vanguard newspaper reported on Friday that the investors made the promise at the just concluded China-Nigeria Business and Investment meeting in Guangzhou, China,

They charged the Nigerian Government on the need to develop better strategies aimed at balancing trade statistics between both countries.

“One of the reasons behind setting up the Association of Nigeria Registered Representative Companies and Offices in China (ANROC) was to balance the statistics of trade between Nigerians and the Chinese,” spokesman for the association Chuka Jude Onwualu was quoted as saying by the newspaper.

“We are aware that the future of China-Nigeria trade relationship would eventually shift from buying finished products to acquiring machineries for production and also purchasing of semi-finished products that will be used as raw materials for the factories,” he added.

Nigeria hopes to become one of the 20 largest economies in the world by 2020 and analysts say the manufacturing sector is key in making that vision possible.

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