The trade volume between Nigeria and China reached a record $30.6 billion, about N4.9 trillion in 2013.
This was disclosed on Wednesday by the Chinese Premier, Li Keqiang, who is on a state visit to Nigeria and also attending the ongoing World Economic Forum on Africa.
Addressing a joint press conference with his guest after holding bilateral talks at the State House, President Goodluck Jonathan said they agreed on a number on a number of issues that are mutually beneficial to Nigeria and China.
President Jonathan said, “We agreed to deepen cooperation in the field of defence and security and strengthen cooperation in counter terrorism, anti piracy and combating organized crimes.
“The Premier expressed firm support to efforts at safeguarding our sovereignty and secure our territorial integrity as well as promoting economic development
The talks also reviewed economic, trade, political and cultural relations between both countries.
They also agreed that the 10th Anniversary of the establishment of the strategic partnership between the two countries coming up in 2015 should be marked to further deepen relations.
Jonathan spoke further, “We agreed to encourage our bastions, companies to further deepen cooperation in infrastructure development especially the railways, power plants and airports.
“We also agreed that the economic cooperation zones established by the Chinese enterprise in Nigeria have achieved tangible progress and that those enterprises should be encouraged to invest in various fields of the Nigerian economy.
“We further expressed support for the financial institutions of the two countries for cooperation in on-lending to Small and Medium Scale Enterprises (SMEs) in Nigeria.
“At the end of our discussions, our Ministers signed a number of bilateral cooperation Agreements and Memorandums of Understanding.
“Among them is the Bilateral Air Services Agreement which will definitely promote greater people to people contact and also enhance bilateral trade and commerce”.
Speaking through an interpreter, the visiting Chinese Premier said they agreed to strengthen bilateral cooperation in the fields of infrastructure, financial services, trade and investment, agriculture, air services, aerospace and people to people exchange.
The Premier disclosed that Nigeria is one of China’s trading partners in Africa and in 2013, trade between both countries reached about 30.6 billion US dollars (about N4.9 trillion)
“I wish to emphasize that we know that the government and people of Nigeria pay high attention to coastal rail project in Nigeria.
“The project is quite significant to the national security and economic development of the country.
“Chinese companies have already shown a key interest in this project and the Chinese government will give support to the cooperation between the two sides on the project in terms of financing and experts.
“We want to work with Nigeria to the conclusion of the project so that it will bring benefits to the people of Nigeria.
“Nigeria has become the largest economy in the Africa continent. Moreover, the Nigerian economy has sustained the upward momentum,” Mr. Keqiang said.
