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Lagos woo Chinese textile investors

More Chinese investors may be on their way to Nigeria as the Lagos State Government and other leaders in the business groups are beckoning on them to be part of the new efforts at industrialising the nation.

Specifically, the Lagos State Governor, Babajide Sanwo-Olu, called on Chinese textile firms to set up production factories in the state.

Sanwo-Olu, who also graced the opening ceremony of the Special Business to Business Fair at the ongoing Lagos International Trade Fair at Onikan, Lagos, added that his administration would create an enabling environment for organisations from Asia to operate in the state.

The B2B fair segment was organised by the Chief Executive Officer, MD Perspective Nigeria Limited, Mrs Morenike Dele-Alimi, with the President, United Asia International Exhibition Group, Mr Ni Liqun, as the chief host.

The President, Lagos Chamber of Commerce and Industry, Mr Babatunde Ruwase, said China was Nigeria’s largest source of imports, adding that Nigeria remained one of China’s largest trading partners in Africa.

He said that the total amount in the bilateral trade relations between the People’s Republic of China and Nigeria in the first six months of this year stood at $8.6bn.

He said, “China is Nigeria’s largest source of imports. Nigeria is also one of China’s largest trading partners in Africa.

“According to the Chinese Consul General in Lagos, Mr Chu Maoming, total trade between China and Nigeria stood at $8.6bn in the first half of 2019.”

Ruwase said the ties between the two countries continued to wax stronger, as seen in some major projects like the rail line construction and Lagos deep-sea port among others being handled by the Chinese.

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In addition, he said many Chinese investors and enterprises in Nigeria were operating in various sectors such as the oil and gas, manufacturing, steel processing, agriculture and construction.

Ruwase said the trade fair provided opportunity for over 500,000 foreign and local businesses to showcase their products and services to the whole world.

The National President of the Nigerian Chamber of Commerce, Industries, Mines and Agriculture, Hajiya Saratu Iya Aliyu, emphasised the need to strengthen the bilateral relations between both countries for mutual benefit.

The Commercial Consul of the Consulate General of the People’s Republic of China in Lagos, Liu Junsheng, reiterated that China remained a strong trading partner with Nigeria, adding that the fair was a strong indication of the relationship.

Dele-Alimi said the forum was an avenue to bring together people of various business interests, especially companies from China and partners in Nigeria.

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