- Trade Volume Hit $13bn in 2017
By Gilbert Ekugbe
“IN 2017, the total China-Nigeria bilateral trade volume reached $13.78 billion, a 29.7 per cent increase. Of this figure, import of China from Nigeria reached $1.62 billion a 79.1 per cent increase over 2016.”
This figure was made known by Chao Xiaoliang, Consul-General of The People’s Republic of China during a seminar jointly organised by the Consulate and Standards Organisation of Nigeria (SON) in Lagos.
The Consul-General disclosed that Nigeria continued to be the second biggest export market and the third biggest trade partner of China in Africa.
He, however, alluded to challenges in the China-Nigeria economic and trade cooperation due to non-adherence to quality requirements and regulations by some companies. These, he said negatively affect bilateral economic and trade cooperation to some extent.
According to him, China is collaborating with SON to ensure that products imported into the country from China are guided by safety measures.
“The bilateral, political and mutual trust has been increasingly enforced while economic and trade exchanges have been consistently deepened,” he said.
In his address, Osita Aboloma, Director- General, SON represented by Nike Owoyele, Regional Coordinator, South-West, said: “We not only monitor but ensure manufacturers build the culture of internal quality assurance. We are for the growth of industries by engaging in periodic investigatory visits across the country to check the activities of industries as well as ensure compliance of imported goods with relevant Nigeria Industrial Standards.”