Tuesday 01 May 2012
Farm imports from Africa
The highest trade volume recorded by Nigeria and China was $10.7 billion in 2011, China's Economic and Commercial Counsellor to Nigeria, Rong Yansong, said.
While speaking on the business opportunities in China, at the Embassy Lecture series of the Aba Chamber of Commerce, Industry, Mines and Agriculture (ACCIMA), Yansong disclosed that the volume of export from Nigeria to China had increased by 47.6 percent, which is estimated at about $1.68 billion, while exports from China to Nigeria had risen by about 60 percent.
According to him, China's advanced technology has made great positive effects on the Nigerian industry.
"With reasonable prices and good quality, Chinese products have highly improved the quality of lives of Nigerians.
The huge bilateral trade volume indicates that China and Nigeria have become important trade partners, and at present, Nigeria is the fourth largest trading partner of China in Africa,” Yansong said.
“Meanwhile, China is the largest trading port resource and largest trading partner of Nigeria.”
According to him, China had also set up about 40 financial investment companies in Nigeria and over 50,000 Nigerians were employed in Chinese-owned businesses.
About the Author »Ikechukwu Onyekwere.
Source: Argentine Beef Packers S.A.
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