Nigeria, China Trade Hits $6.2bn In Second Quarter

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The Project Manager, Brightway International Exhibition Ltd, Mr. David Zhao, has said that the trade volume between Nigeria and China has increased to a total of 6.2 billion dollars in the first half of 2013.

The figure represents 18-6 percent increase as against the $4.5 billion dollars in the corresponding period of 2012.

Zhao who is coordinating companies for the Chinese Exhibitors at the on-going Lagos International Trade Fair, noted that Nigeria is China’s second largest export market in the world.

According to him, the complementary relationship between the economies of both countries had created cooperation that facilitated the boost in the trade volume.

Zhao said Nigeria’s rapid economic growth has engendered considerable influence in Africa, adding that the bilateral agreements signed by Nigeria and China have led to a smooth and steady development in trade, agriculture, infrastructure construction and telecommunication in Nigeria.”

“Many Chinese companies have been doing business in Nigeria in the last decade,” he added.

He also noted that about 200 exhibitors were at the China Pavilion at the trade fair arena to showcase their products to prospective customers.

“ The China pavilion has been the biggest international hall and has enjoyed a good reputation in the last five years.”
“LCCI granted us the award of Largest Foreign Exhibitor, Best Foreign Country Participant and Best Participating Country for five years in a row,” he said.

He assured participants of cost-effective products ranging from machinery and vehicles, building materials, hard wares to household commodities.