Nigeria im­ported N1.8tr goods from China in 2013

Daily Trust - - BUSINESS - From Romoke W. Ah­mad in Bei­jing, China

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.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.