Nigeria, China agree to expand bilateral and trade cooperation

Nigeria and China have agreed to expand bilateral and trade cooperation as the two countries have huge potentials to explore to the benefit of their people.

Mr. Zhou Pingjian

Mr. Zhou Pingjian

The Ambassador of the Peoples Republic of China to Nigeria, Mr. Zhou Pingjian made the assertion when he led members of the Nigerian House of Representatives Committee on Nigeria-China relations on a visit to a CGCOC Group, a Chinese company in Abuja, Nigeria.

Mr. Pingjian disclosed that both countries have begun the implementation of the agreements reached during the visit of President Muhammadu Buhari to China in April last year.

The envoy however noted that the relationship between the largest country in Africa and Asian giant has a lot of potential which could be tapped to the advantage of the two nations.

Ambassador Pingjian said that his country’s desire was for Nigeria to attract massive Foreign Direct Investment which he said was needed for the nation’s development.

“What is important is for us to keep focus on the big plans; we see great potential in investment (in Nigeria), but Nigeria-China trade is declining fast,” the envoy stated.

He disclosed that China had so far attracted over $139 trillion FDI, noting that his country attracted about $139 billion FDI in 2016 alone.

“As Chinese ambassador to Nigeria, I wish a small part of the $139bn could come to Nigeria.”

“China’s policy was focused on economic development of Africa, disclosed Ambassador Pingjian.”

He explained that his country was devoted to implementing the outcomes of the Forum of China-Africa Cooperation summit and President Muhammad Buhari’s state visit to China in April last year.

Ambassador Pingjian stated that China was committed to Nigeria’s economic revival and diversification, stressing that his country was ready to support the nation’s economic drive.

On his part, the House of Representatives Committee on Nigeria -China Relation Buba Yakubu said the committee was working assiduously to ensure that laws are enacted to ease the trade relations.

Mr. Yakubu reiterated Nigerian Government’s commitment to implementing agreements reached with other countries.

He stated that Nigeria was committed to implementing all agreements reached with China adding that the country will also create conducive environment for Foreign Direct Investments to thrive in Nigeria.

The CGCOC Group Managing Director, Ye Shuijin called for improved security in the country, noting that Chinese firms in Nigeria were ready to make meaningful contribution to the socio-economic development of the country.

Nigeria and the Peoples Republic of China established diplomatic tie in 1971.

The bilateral relations between Nigeria and the People’s Republic of China have expanded over the years with the growing bilateral trade and strategic cooperation.

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