The Federal Government has pledged its commitment to develop bilateral ties with the People’s Republic of China in order to increase economic cooperation that will be advantageous to both nations as part of its efforts to implement the Administration’s 8-Point Agenda of Renewed Hope.
This was said by the Vice President, Kashim Shettima, who was present at the Mid Autumn Festival and Chinese National Day Celebration held in Lagos between September 22 and September 24, 2023.
Shettima who was represented by His Excellency Uba Maigari Ahmadu, Minister of State, Ministry of Steel Development, noted that the Chinese business relationship with Nigeria will bring greater socioeconomic benefits to both nations.
The Vice President reaffirmed the Federal Government’s commitment to advancing economic relations with China, which will open up new trade opportunities and allow for the investigation of potential areas for investment and technological collaboration.
Speaking further, he stressed the need for better investment climate, improved infrastructure development, and eased business conditions that will open more opportunities in Steel Development, Agriculture, Renewable Energy, Technology as well as Communication.
He emphasized Federal Government’s readiness to ensure responsible business practices that will further deepen the collaboration, as according to him, engaging in responsible business practices is crucial for long-term success.
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Earlier in his remarks, Mr. Guo Pengwen, the Commercial Consul at the Chinese Consulate, disclosed that both countries have a high volume of bilateral trade between them.
According to him, Nigeria ranks third in bilateral trade and second in trade and importation, saying, the exchange of goods and services has diversified Nigeria’s export base and strengthened overall economic stability in sectors such as infrastructure development, telecommunications, agriculture, energy, manufacturing, and transportation.
He further stated that these projects have not only improved Nigeria’s transport networks but also created employment opportunities and enhanced connectivity within the country.
Also speaking at the event, Dr. Eric Ni, Chairman of the China Industrial and Commercial Enterprises Association, highlighted the flourishing economic cooperation between China and Nigeria.
He said both countries have recognized the immense potential for mutual beneficial partnerships, leading to significant Chinese investments in various sectors of the Nigerian economy.
He added that these investments have contributed to economic growth, job creation, and technological advancement.
