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Wednesday, November 07, 2001, updated at 13:22(GMT+8)
Business  

China Trade Exhibition Opens in Nigeria

China Trade Exhibition Tuesday kicked off in Lagos at the invitation of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

Organized by China Council for the Promotion of International Trade (CCPIT) and China Chamber of International Commerce, a total of 48 Chinese companies attended the largest fair ever held by the CCPIT in Africa.

Speaking at the opening of the fair, Nigerian Political Adviser to the President Chukwuemeka Ezeife said that President Olusegun Obasanjo, representing all Nigerians, has shown clearly and highly what "we value a good relationship with China".

Identifying China as possessor of the technology very relevant to Nigeria's needs, Ezeife said that the Nigerian government and people are full of admiration for the achievement of China in many areas, including social engineering, agricultural engineering and overall economic engineering which is making China emerge as an economic huge power.

"We know that economic success lends the foundations for the enhancement of successes in every aspect and every direction. We are witnessed with China; We want to learn from China; We want to be like China -- economic growth and development," he said.

He expressed his hopes that more Chinese firms and businessmen come in Nigeria for investment, stressing the need of increased frequency of economic contacts between the two peoples, such as the China Trade Exhibition.

Speaking at the same function, Director of the Chinese Exhibition Delegation Li Jianning said that the Chinese government has always attached importance to boosting trade relations with African nations, particularly with Nigeria.

"In late August this year, President Olusegun Obasanjo visited China and addressed China's business circles at CCPIT office building, which is believed to give strong impetus to the bilateral cooperation between Chinese and Nigerian industrial and commercial circles," Li said.

He assured that the CCPIT will make unremitting efforts to promote trade and economic and technological cooperation in various forms between China and friendly African nations, including Nigeria.

More than 300 guests, including Zhou Yuxiao, charge d'affaires ad interim of China's embassy in Nigeria, Lawrence Nwuruku, Nigerian Minister of State for Industry, and NACCIMA President Alhaji Umaru Shehu Ndanusa, attended the opening ceremony of the five-day fair.

The exhibits include motorcycles and parts, auto parts, bicycle parts, tires, agriculture machines, weaving machines, cookware, air conditioners, color TVs, refrigerators, small household electric appliances, electronics, diesel engines and power generators.

As the most populous country in Africa with about 120 million people, Nigeria has broad market potential and attracted more and more Chinese firms and individuals to do business with their Nigerian counterparts and seek for investment opportunities.

According to the Economic and Commercial Office of China's Embassy in Nigeria, the total volume of bilateral trade between China and Nigeria was 570 million U.S. dollars in 1999, and the figure went up to 860 million dollars in 2000. So far, Nigeria has become the third trade partner of China in Africa after South Africa and Egypt.

The bilateral trade value between China and Nigeria reached to 870 million dollars in the first 9 months of this year, representing a 50-percent increase over the same period of last year and surpassing the total figure of 2000.

At present, the sum of bilateral trade between China and Nigeria accounts for more than 14 percent of the total trade volume between China and Africa.

Nigeria Willing to Learn From China

Ezeife that Nigeria is willing to learn from China's experience in economic development, pledging to help more Chinese investors seek business opportunity in the west African country.

Ezeife pointed out that China, the most populous country in the world with about 1.3 billion people, has made great economic achievements over the past two decades, during which Nigeria has witnessed some economic problems due to the cause of the past regime.

Nigeria and China are the biggest countries in terms of population on their respective continents, there are a lot of common fields for both sides to cooperate, especially in the economic area, the adviser said.

Ezeife welcomed more Chinese entrepreneurs to invest in Nigeria, assuring that he will offer them help and consultations anytime and anywhere.

As the most populous country in Africa with about 120 million people, Nigeria has a broad market potential and attracts more and more Chinese firms and individuals to do business with their Nigerian counterparts and seek for investment opportunities, he said.

In order to demonstrate his sincere desire, Ezeife wrote down his E-mail address, saying it is very useful to introduce from China the technology that is very relevant to Nigeria's needs.

"Tell the Chinese investors that the Nigerian government is ready for their investments, indeed massive," Ezeife said, adding the investors will surely reap rich rewards.

On the agricultural cooperation between the two countries, he said that a delegation comprising officials from federal and state governments and agricultural experts is currently visiting China to learn how to store grains aimed at reducing food losses.

Recommending the agricultural achievement in China, whose productivity is five times that of Nigeria's, he said that this is why Nigeria needs to learn from China.

He reiterated the Nigerian government's consistent stand on the issue of Taiwan, saying that it will, as always, stick to one China policy.

Speaking at the opening ceremony of a trade exhibition from China, Ezeife said President Olusegun Obasanjo, representing all Nigerians, has shown clearly and highly what they "value a good relationship with China".

"We know that economic success lays the foundations for the enhancement of successes in every aspect and every direction. We want to learn from China. We want to be like China -- economic growth and development," he said.

According to the Economic and Commercial Office of the Chinese Embassy in Nigeria, the total volume of bilateral trade between China and Nigeria was 570 million U.S. dollars in 1999, and the figure went up to 860 million dollars in the year 2000. Nigeria has become the third trading partner of China in Africa after South Africa and Egypt.

The trade value already reached 870 million dollars in the first nine months of this year, representing a 50 percent increase over the same period of last year and surpassing the figure of 2000.

Now the value of bilateral trade between China and Nigeria accounts for more than 14 percent that of trade between China and Africa as a whole.







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China Trade Exhibition Tuesday kicked off in Lagos at the invitation of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

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