Organisers of the China-Nigeria Expo have stated that the event will improve trade relations between China and Nigeria.
The expo, which will be held from November 5-8 in Lagos, Southwest Nigeria, is expected to be the greatest meeting of Chinese manufacturers in Nigeria and West Africa.
According to the organisers, Nigeria is China’s second-biggest trading partner in Africa, and China is the country’s major importer.
According to Chinese customs data, bilateral trade volume between China and Nigeria would reach $23.9 billion in 2022, with China exporting $22.3 billion and Nigeria importing $1.6 billion.
In the first three quarters of 2023, bilateral trade totaled $17.25 billion, with $15.67 billion in exports to Nigeria and $1.58 billion in imports from Nigeria, a 22.5 percent increase over the same time last year.
Chinese investors have committed more over $1.5 billion to the Lekki Free Trade Zone and Ogun-Guangdong Free Trade Zone alone, creating over 7,000 jobs, according a statement.
It stated that China’s contributions to Nigeria’s infrastructure included the Lekki Free Trade Zone, the Lekki Deep Sea Port, the Lagos Blue Line Rail, and rail connections to neighboring countries to facilitate business, demonstrating the benefits of the Belt and Road Initiative.
Mr Muheez Ojulari, Chief Representative Officer of Brightway International Exhibition, stated, “In order to further improve the trade relationship between Nigeria and China, Brightway International Exhibition, the organiser of the annual China Commodities Expo- Nigeria, will continue to support the current administration’s laudable initiative as proposed in the eight-point agenda to attract the right investment into Nigeria.
He noted that the event provided numerous opportunities for business growth and networking, enabling participants to expand their business networks, forge connections with leading Chinese manufacturers, find new suppliers, and explore venture capitalist support for business ideas and solutions.
He commented that it was an opportunity to diversify businesses, increase foreign direct investment, and improve individual standards of living, thus reducing poverty and promoting economic growth and development for both nations.
“By providing a platform to assess investment and developmental potentials, it contributes to building and strengthening the existing mutually beneficial bilateral relationship between China and Nigeria.
“The exhibition’s impact extends beyond trade and economic cooperation, as it fosters technology transfer, reduces poverty, and improves the standards of living for individuals in both nations,” Ojulari added.
Related posts:
UAE unveils 365-day countdown to 2020 World Expo
President Buhari attends Expo 2020 in Dubai
Employers Association holds job expo in Lagos to combat youth unemployment
FG, Euro based group partner to host food expo, boost investment in agro sector
Nigeria Pitch Awards Organisers announce final nominees
Nigeria Pitch Awards organisers announce final nominees
2nd Nigeria Diaspora Investment Summit to focus on Agriculture, Sports, others – Organisers
Trump, China’s Xi to meet at G20 summit in November amid trade tensions
