Nige­rian cham­ber praises fair that links the world

China Daily (Hong Kong) - - BUSINESSFO­CUS - By JING SHUIYU jing­shuiyu@chi­nadaily.com.cn

The China In­ter­na­tional Im­port Expo plays a vi­tal role in con­nect­ing busi­ness­peo­ple around the world and in strength­en­ing global trade ties, a lead­ing Nige­rian busi­ness com­mu­nity group said.

“The CIIE plays a very im­por­tant role in con­nect­ing busi­ness­peo­ple from all over the world and in the pro­mo­tion of in­ter­na­tional trade re­la­tions,” the La­gos Cham­ber of Com­merce and In­dus­try said.

The re­marks of the busi­ness group were given as prepa­ra­tions for the third CIIE are un­der­way, fol­low­ing the rel­a­tively ef­fec­tive con­tain­ment of the novel coro­n­avirus in the coun­try. The expo is slated for Nov 5 to 10 in Shang­hai.

The event fos­ters busi­ness re­la­tions be­tween dif­fer­ent coun­tries and fa­cil­i­tates the dis­tri­bu­tion chain from in­ter­na­tional man­u­fac­tur­ers to lo­cal con­sumers, the cham­ber said.

Temi­tope Ak­in­tunde, the cham­ber’s as­sis­tant direc­tor for in­ter­na­tional and pub­lic sec­tor re­la­tions, said the Chi­nese econ­omy re­mains “very strong and com­pet­i­tive” and the coun­try is a lead­ing ex­porter to many coun­tries around the world.

Ak­in­tunde said the China-Nige­ria re­la­tion­ship on both the diplo­matic and eco­nomic levels has been fur­ther strength­ened de­spite the COVID-19 pan­demic, as China pro­vided great sup­port to Nige­ria in cur­tail­ing the spread of the dis­ease.

“Nige­rian busi­nesses are hope­ful for sus­tained busi­ness and eco­nomic ac­tiv­i­ties be­tween China and Nige­ria,” she said.

The LCCI is a lead­ing pri­vate sec­tor group based in La­gos, the largest and most pop­u­lous city in Nige­ria. It has over 2,000 corporate mem­bers. In the first and sec­ond edi­tions of the CIIE, mem­bers of the cham­ber sealed trans­ac­tions worth over $100 mil­lion.

When asked about her im­pres­sion of the CIIE, Ak­in­tunde said the event is a first of its kind world­class meet­ing point for im­porters and ex­porters.

Thanks to the expo, the LCCI mem­bers have been able to in­ter­act with other busi­ness­peo­ple from dif­fer­ent parts of the world and share their ex­pe­ri­ences to­gether, Ak­in­tunde said.

“Our mem­bers have been able to get world-class prod­ucts and ser­vices from gen­uine man­u­fac­tur­ers, and in­crease their scale of do­ing busi­ness,” Ak­in­tunde said. “They have also been able to sell their prod­ucts and ser­vices to China and some other coun­tries.”

There have been decades of strong bi­lat­eral re­la­tions be­tween China and Nige­ria. China is cur­rently Nige­ria’s largest trad­ing part­ner.

In 2019, the trade volume be­tween China and Nige­ria reached $19.27 bil­lion and the growth rate was 26.3 per­cent yearon-year, rank­ing first among China’s top 40 trad­ing part­ners, ac­cord­ing to data re­leased by the Chi­nese Em­bassy in Nige­ria. China’s im­ports from Nige­ria in­creased by 43.1 per­cent in 2019 on a yearly ba­sis, the data showed.

Zhou Qingjie, a pro­fes­sor of the school of eco­nom­ics at Bei­jing Tech­nol­ogy and Busi­ness Uni­ver­sity, said as the con­ta­gion has led to a global eco­nomic down­turn, China is a ma­jor mar­ket that has quickly re­cov­ered from the pan­demic. The Chi­nese mar­ket has enor­mous pur­chas­ing po­ten­tial for equip­ment, raw ma­te­rial and con­sumer goods, he said.

SHEN BO­HAN / XIN­HUA

Nige­ria-made lo­cal fla­vor drink pack­ages are dis­played dur­ing the first CIIE in Shang­hai on Nov 6, 2018.

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