Strengthening bilateral trade relations between Nigeria, China - BUSINESSDAY
Nigeria and China bilateral relationship has remained strong since both countries established diplomatic relationship in 1971. In 2005, both countries established strategic partnerships to promote relations in several areas and enhance continued people-to-people exchanges.
Since then, trade between both countries have burgeoned and China is now the number one trading partner to Nigeria, accounting for over 60 percent of Nigeria’s trade volume.
Between January and November 2017 alone, Nigeria-China bilateral trade stood at some $12.3bn, according to information released by Lin Jing, deputy Chinese ambassador to Nigeria.
There is also another initiative from the Chinese Emabassy in Nigeria known as “Made in Nigeria with China.” The idea is to transfer some of China’s industrial capacity and technology to Nigeria to help boost Nigeria’s manufacturing capability. The concept will also help the many private investors in China have access to Nigeria’s market and also transfer their expertise, experience and surplus industrial capacity to Nigeria.
Thus, China’s relationship with Africa would boost economic activities, generate income and enhance foreign investment.
At the core of the bilateral trade relations between China and Nigeria is the China Chamber of Commerce in Nigeria (CCCN), an organisation founded seven years ago.
According to Xu Tian, executive secretary, China Chamber of Commerce in Nigeria, there are currently ‘over 100 member companies in CCCN’ in Nigeria.
She said these companies cover diverse fields such as infrastructure, manufacturing, culture, science and technology, oil and gas, agriculture, mining, investment and other businesses and projects in Nigeria.
She also confirmed that in recent years, the bilateral investment between China and Nigeria has seen a rapid development.
“Currently there are more than 50 Chinese engineering companies and over 30 Chinese investment enterprises in Nigeria,” she said, adding that “Chinese member enterprises bring a great deal of Chinese capital and technology for Nigeria.”
The huge number of Chinese companies’ presence in Nigeria is not just to do business but also to give back to the Nigerian society.
“Chinese member enterprises did not forget to assume their social responsibilities while they are busy with their own development. Thus, they actively participate in donation of public facilities, to help local staff build their capacities through training, and provide a number of employments for Nigerians,” she explained.
The relationship between China and Africa will have an important development this year. Besides, the summit of China Africa cooperation forum will be held this year. Driven by the spirit of One belt One Road, member companies of CCCN have all joined in social responsibilities to establish a good relationship and create more cooperation opportunities in Nigeria and elsewhere in Africa.
The China Chamber of Commerce in Nigeria has made an N6 million worth of office supplies’ donation to the Nigerian Investment Promotion Council (NEPC).
According to Xu Tian,“some of the Chinese companies have done a good job about social responsibilities. For example, the CGC NIG Ltd made a donation of a total system of water supply to community in Quarri Town. Also HUAWEI Technologies Co.Nig. Ltd. made a donation ceremony to Masochist Children Foundation in Kano State and Powerchina International Group Limited donated gifts Chrismas to Darlez Care Orphanage Home in Abuja.”
She stated that CGGC NIG LTD has also donated food and drink to Orphanage Home in Abuja.
Several other Chinese companies are also variously doing corporate social responsibilities across their host communities in Nigeria and all the members of CCCN hope that China and Nigeria could build a good relationship each other with cooperating in more areas. she noted.