March 9, 2018

China is set to improve the balance of trade with Nigeria through its China Import International Expo holding in Shanghai, China from Nov. 5 to Nov. 10.

Mr Zhao Linxiang, Economic and Commercial Counsellor, Chinese Embassy in Nigeria made this known at a news briefing in Abuja on Friday.

China’s bilateral trade with Nigeria, from Jan. to Nov. 2017, stood at 12.3 billion dollars with more Chinese exports to Nigeria.

Zhao said that the expo would provide opportunities for Nigeria to expand its exports to and share business opportunities with China and other participating countries.

“It is believed that this upcoming China International Import Expo will breathe new life into the bilateral trade cooperation and create the biggest opportunity to enhance the bilateral trade position to a new level.

“It is believed that this expo will give the Nigerian people and businessmen a great platform to show what Nigeria looks like to China and the rest if the world.”

He added that the Chinese Economic Office in Lagos was collaborating with the Lagos Chamber of Commerce to assist businesses interested in participating in the event.

Zhao said that China had invited eight other African countries with which the country hoped to improve trade relations, an added that 100 countries were expected to participate at the import expo.

He further added that the expo would also offer the opportunity for participating countries to take advantage of China’s vast market with a population of 1.3 billion and further compete favourably with local products.

“In the next five years, China is expected to import products and services worth more than 10 trillion dollars.

“It is our sincere hope, through the holding of this China International Import Expo, to keep promoting trade liberalisation and facilitation, make concerted effort to enhance global trade and contribute to a more inclusive and sustainable global economy.”

The News Agency of Nigeria (NAN) gathered that interested participants in Nigeria should register on the official website of the expo, http://www.shanghaiexpo.org.cn.

The exhibition would also include trade in goods and services including food and agricultural products, consumer electronics and appliances, medical equipment, tourism services, culture and education, among others.