Africa

Africa: Nigeria Is China’s Main Funding Vacation spot in Africa – Envoy – NewsEverything Africa

Mr Zhao Yong, Deputy Ambassador of China to Nigeria has disclosed that Nigeria is China’s main funding vacation spot in Africa with a bilateral commerce development rating first amongst China’s prime 40 buying and selling companions globally.

Zhao made this recognized on Monday in Abuja whereas briefing journalists as a part of actions to mark the commemoration of the 50 years of bilateral relations between each international locations.

He stated that Nigeria had surpassed Angola and South Africa to turn into China’s second largest buying and selling accomplice and largest export market in Africa.

The Chinese language envoy stated the commerce development between each international locations had continued to develop amid the antagonistic impact of the Coronavirus (COVID-19) pandemic in 2020.

“In 2019, the commerce quantity between China and Nigeria reached 19.27 billion US {dollars}, which was 1,900 instances that of 1971 when the diplomatic relationship was first established.

“And the bilateral commerce development price is rating first amongst China’s prime buying and selling companions on the earth.

“Regardless of the antagonistic results of the COVID-19, the bilateral commerce quantity from Jan. to Oct. 2020 elevated by 0.7 per cent 12 months on 12 months, which was 14 per cent larger than the commerce development price between China and Africa as an entire.

“The Ogun-Guandong Free Commerce Zone and Lekki Free Commerce Zone have attracted a big numbers of Chinese language corporations to take a position and function of their companies.

“The infrastructure tasks constructed collectively by the 2 international locations resembling roads, ports and airport terminals may be seen in every single place,” Zhao stated.

Zho stated the China-Nigeria bilateral relations had elevated to a strategic partnership with sensible cooperation in varied fields yielding outcomes.

He added that previously 50 years, the exchanges between China and Nigeria within the areas of tradition, well being and safety had been more and more dynamic.

He additionally stated that in 2019, the variety of Nigerian college students learning in China rose to six,800, standing as first in all African international locations.

On the COVID-19 pandemic, Zhao stated China offered well timed medical assist to Nigeria in three batches and shared its experiences on epidemic prevention and management with the Nigerian authorities.

Zhao, nonetheless, famous that China was able to make joint efforts with Nigeria to additional strengthen the anti-pandemic cooperation to fully defeat the Covid-19.

He added that this 12 months can be important for China-Nigeria relations following the latest go to of the Chinese language International Minister, Wang Yi in January to Nigeria.