Nigeria: China's Trade With Nigeria, Other Partners Now $1.35tn, Says Envoy

20 August 2021

Abuja — The Chinese Ambassador to Nigeria, Mr. Cui Jianchun has disclosed that trade between China and countries in the Belt and Road Initiative (BRI) global partners (Nigeria inclusive) has hit $1.35 trillion.

Jianchun, who spoke in Abuja, during the BRI Symphony played by China-Nigeria Orchestra, said 140 countries, including Nigeria have already signed into the programme.

The Chinese Ambassador also disclosed that trade with African countries was in the region of $1.35 trillion as of 2020.

He said: "We have 140 countries plus 30 International Organisations that have signed this document. In the African continent, we have 46 countries, including the African Union that has signed this document.

"Since 2013, we have recorded $130 billion investment. The third figure is about trade, we have accomplished $9.2 trillion in trade all over the world with the International partners."

He added that: "Young Nigerians are very keen about e-commerce and I want to let you know that we have 22 countries that have e-commerce with China and I do believe that it can be done with Nigeria."

The ambassador while highlighting the importance of China's BRI Initiative with Nigeria and other countries across the globe, said the Embassy was developing strategies to promote the BRI initiative between Nigeria and China.

He said: "The main essence of the BRI is about viable connectivity. First is about the policy coordination, second is about the facility connectivity.

"The third is about unimpeded trade, the fourth is about financial integration, and the last is about people to people bound. And I hope that everybody here today you could remember the five connectivity."

He said: "There have been great achievements of BRI in the past eight years. Now, we have 140 countries that have signed this document with the Chinese government, Nigeria is also part of the country.

"I also took part in the drafting of this document and I am very happy that Nigeria has signed this document in the year 2018."

The Chinese envoy noted that trade remains important for BRI partners, while stressing that, "we need Chinese products, we also need products from the BRI partners."

He said Chinese Embassy in Abuja under his leadership have developed a strategy termed the "5GIST" as a means of promoting the future cooperation within the framework of the BRI between China and Nigeria.

He said: "In this strategy, the 5GIST means 5 Goals, 5Is, 5Ss and 5Ts which is the China-Nigeria GDP Strategy. The GDP means Growth, Development and Progress."

He explained that: "The first five Goals are; political support, economic cooperation, military collaboration, international coordination and people to people bond.

"The second Five are: first is about infrastructure, second is ICT, third is about Industry; railway is key for the Nigerian people."

He noted that, "without industry we cannot get rich, we cannot get strong, we cannot create more jobs, we cannot create income. We believe that industry in the agriculture, manufacturing, how they can be implemented."

He added that the was about investment in agriculture, aquaculture, manufacturing, oil and gas, saying, "I think we really need investments and how to attract Foreign Direct Investments."

He said the third S includes, security, saying, "we need structure, we need speed because we cannot be lagging behind in the 21st century. We need Synergy and supervision."

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