Ms Yan Yuqing, Consul General of China in Lagos, says she is optimistic that President Bola Tinubu’s visit to her country will boost investment and employment in Nigeria.
By Busayo Onijala
Ms Yan Yuqing, Consul General of China in Lagos, says she is optimistic that President Bola Tinubu’s visit to her country will boost investment and employment in Nigeria.
Yuqing told the News Agency of Nigeria (NAN) in Lagos that this would further enhance the sense of gain, happiness, and security of people of both countries.
“We hope to take the Beijing Summit and President Tinubu’s visit as an opportunity to deepen cooperation between our countries in fields of industry, agriculture, infrastructure construction, financing, poverty reduction, technological innovation, and others.”
NAN reports that the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) will hold from Sept. 4 to 6, in Beijing with the theme, “Joining Hands to Advance Modernisation and Build a High-Level China-Africa Community with a Shared Future”.
Yuqing said the summit would adopt two outcome documents, the Declaration and the Action Plan to build major consensus between both sides and chart a path for implementing high-quality China-Africa cooperation in the next three years.
She said China’s President Xi Jinping and Tinubu would explore the seamless integration of China’s Belt and Road Initiative (BRI) and the Tinubu in China: Envoy hopeful of investment, employment boost Development Initiative, with the African Union’s Agenda 2063 and President Tinubu’s “Renewed Hope” Agenda.
“Nigeria is a pioneer country in the China-Africa BRI cooperation, which has continuously deepened economic and trade relations between our countries.
“In 2023, bilateral trade between China and Nigeria reached $22.56 billion, and Nigeria is China’s third-largest trading partner in Africa.
“Nigeria is also our largest engineering contracting market, the second-largest export market, and a major investment destination.”
The Consul General said China, on the other hand, had maintained its position as Nigeria’s largest trading partner for many consecutive years.
According to her, Nigeria has a promising market, abundant natural resources, significant cost advantage in labour, and substantial reserves of oil and natural gas.
She said Nigeria boasted of a wide variety of mineral resources, massive and fertile land suitable for agriculture, and a favourable geographic location, with notable transportation advantages.
These unique natural advantages and endowments, Yuqing said, provided a solid foundation and great convenience for doing business in Nigeria.
Yuqing noted that the Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) held in August, made plans to further promote high-level opening-up and intensify efforts to introduce and utilize foreign investment, with many policies benefiting Nigeria.
She cited the example of the steady expansion of institutional opening-up.
This, she said included creating a transparent, stable, and predictable institutional environment in areas such as property rights protection, environmental standards, labour rights protection, and e-commerce.
“Additionally, there is an effort to further improve the facilitation of residency, medical care, and payment systems for foreign business and tourist visitors to China.
“We also aim to expand the openness of the service industry, promoting orderly opening in telecommunications, the internet, education, culture, healthcare, and other sectors.
“It aims to accelerate the development of offshore trade, ensuring the national treatment and legal rights of foreign enterprises in qualifications and standard-setting,” she said.
Each year, China hosts major international exhibitions including the China International Fair for Trade in Services (CIFTIS), the China Import and Export Fair (Canton Trade Fair), and the China International Import Expo (CIIE).
According to Yuqing, from Oct. 15, China will open the 136th edition of the historical Canton Trade Fair and the consulate will provide a great path for Nigerians interested in travelling for business. (NAN)
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