Nigeria, China Sign Trade Agreement

President Goodluck Jonathan and President Xi Jinping of China in Beijing presided over the signing of five agreements to boost financial, trade, economic, technical and cultural relations between Nigeria and China.

The agreements which were signed after bilateral talks between the two leaders and their delegations include the Framework Agreement on Comprehensive Financial Cooperation In Support of Nigeria’s Economic Development and a Preferential Buyer Credit Agreement for Nigeria’s Four Airports Expansion Project.

Others were a new Agreement on Economic and Technical Cooperation between Nigeria and China, an Agreement on Mutual Visa Exemption for holders of diplomatic and official passports from both countries and an Agreement for the Prevention of the Theft, Illicit Import and Export of Cultural Property.

Speaking before the commencement of the talks, President Jonathan thanked President Jinping and the people of China for the warm reception accorded him and the First Lady, Dame Patience Jonathan since their arrival in Beijing.

The President assured President Jinping that the Federal Government is fully committed to sustaining and developing the strategic partnership between Nigeria and China for the mutual benefit of the two countries and their people.

He said that in spite of the many positive developments in bilateral relations between the countries in recent years, there was still ample scope for increased trade and direct investment from China in Nigeria.

President Jinping assured President Jonathan that China will continue to work with Nigeria in all possible areas in furtherance of the development agenda of both countries.

Earlier, President Jonathan met and invited Senior Executives of several Chinese conglomerates to initiate fresh investments in Nigeria or increase existing ones, saying that the Federal Government was committed to doing all within its powers to expand Nigeria’s domestic manufacturing capacity.

Those, the President met with included top executives of Huawei Technologies Limited, China Great Wall Industries, ZTE Corporation, the State Grid Corporation of China, the NIC/SINOPEC/CGC Consortium, the China Railway Construction Corporation and the China Harbour Engineering Corporation.