Chinwe Ochu
16 September 2008
Abuja — China's current investment in Nigeria stands at $3 billion while bilateral trade as at the end of 2007 amounted to $4.3 billion, making Nigeria the third largest trading partner of China in Africa.
This was disclosed in a statement issued by the Ministry of Foreign Affairs entitled "Brief on Nigera-China Relations", which was released after the visit of a Chinese delegation to the Ministry.
The statement said:"Nigeria and China are committed to engaging each other meaningfully in mutually beneficial economic cooperation by boosting trade and investment. China's current investment in Nigeria stands at $3 billion while bilateral trade as at 2007 was $4.3 billion, making Nigeria the third largest trading partner of China in Africa."
Minister of State for Foreign Affairs, Mr. Tijani Kaura, said that the 7-man Chinese delegation, which was led by Mr. Qi Xuchun, Vice Chairman Committee of Foreign standing Committee of the People's Republic of China, were in Nigeria to help in improving the bi-lateral relations between the two countries.
"They are here in the Ministry- the gateway to the other nations to pay a visit to improve on their relationship with Nigeria. Also, members of the Chinese legislature are here to see how we are fairing in that regard. Relations between Nigeria and China have been very cordial and active."
He continued: "I think we have laid a solid political stronghold. China is a country that is into conflict resolution just like Nigeria. It is also a country that engages in a large volume of trade. So it is no wonder that Nigeria is ever willing to partner with China. They are also here as a return visit to Nigeria since the President visited China earlier this year.
"China is the most populous country in the world while Nigeria is the most populous in Africa. We have a lot in common."
Earlier in February 2008, President Umaru Musa Yar'Adua visited China and entered into a financial agreements with them in the hope of achieving Vision 2020.
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