Nigeria imported N1.8tr goods from China in 2013

Nigeria imported goods and services worth $12 billion (about N1.8 trillion) from China in 2013, the Deputy Director, Department of West Asian and African Affairs, China Ministry of Commerce, Mr. Cao Jiachang, has said.

Speaking yesterday in Beijing, Jiachang put the total trade volume between the two countries at $13.6 billion.

“Import to Nigeria from China was $12bn while export from Nigeria accounted for the remaining $1.6 bn. Our export and import growth for the same year exceeds 20 percent,” Jiachang said.

He further explained that import from the African continent for the year was $117.4bn with total trade volume with Africa at $210.2bn in 2013, a 15.9 percent increment from previous year.

He said China’s direct investment within the period was $3.5bn in Africa which accounted for 3.9 percent of the total direct investment of China in the world.

He said Nigeria is the biggest market for Chinese construction companies in Africa and third in terms of bilateral trade relations.

The construction projects handled by Chinese companies in Nigeria amounted to $4.3bn in the same year with nothing less than 8000 labour force.

Jiachang also said that contracts worth $47.9bn were concluded in Africa last year with a total work force of 46,000 across the continent, representing 21 percent of China’s total workforce.

Speaking on the quality of Chinese products in Africa, he stressed that their government takes the issue seriously and that the ministry of commerce has been mandated to improve and properly check the quality of products sent to Africa.

“It is beneficial to have good will from Africa by improving the quality of our products, and sanctions are been placed on any company found wanting or guilty of this through preventing it from exporting to the continent,” he said.

Speaking further, he enjoined African business people to find Chinese partners through its ministry of commerce, saying they cannot guarantee the authenticity of online companies as some of them are not known to the ministry.

He said the government is also supporting companies that are importing agricultural products from Africa by exempting them from paying tariff, saying they are on the verge of increasing it to 97 percent to further encourage companies, agencies and other business people.