By INNOCENT ODOH |
Nigeria has been ranked first among China’s top 40 trading partners globally and its major investment destination in Africa as the Sino-Nigeria bilateral ties clock 50 years tomorrow.
Deputy Ambassador of China, Zhao Yong, made this known during a news conference in Abuja yesterday as parts of activities to commemorate 50 years of bilateral relations between both countries, even as he described China-Nigeria ties as a pacesetter in China-Africa cooperation.
He said that Nigeria has surpassed Angola and South Africa to become China’s second largest trading partner and largest export market in Africa.
The Chinese envoy said the volumes of trade between both countries have continued to grow amid the adverse effect of the Coronavirus (COVID-19) pandemic in 2020.
“In 2019, the trade volume between China and Nigeria reached 19.27 billion US dollars, which was 1,900 times that of 1971 when the diplomatic relationship was first established.
“And the bilateral trade growth rate is ranking first among China’s top trading partners in the world.
“Despite the adverse effects of the COVID-19, the bilateral trade volume from January to October 2020 increased by 0.7 per cent year on year, which was 14 per cent higher than the trade growth rate between China and Africa as a whole.
“The Ogun-Guandong Free Trade Zone and Lekki Free Trade Zone have attracted a large number of Chinese companies to invest and operate in their businesses.”