The Chairman of the China Africa Business Council (CABC), Chief Diana Chen has announced that China is targeting a spike in African trades from the present $30 billion to $300 billion in the next three years. This is valued at about N124.596 trillion.
Chen made this disclosure on Wednesday while signing a Memorandum of Understanding (MoU) with the Lagos Chamber of Commerce and Industry (LCCI) to deepen bilateral trades.
While speaking, she noted that the partnership was aimed at promoting exports from Africa, unlike the present situation where Africa and Nigeria mostly deal with imports from other countries.
Chen, who is also the Chairman of CIG Motors, added that when the trade partnership increases, it will benefit more African business people and would promote the balance of trades between Africa and the international market thereby protecting the economy of Nigeria.
Similarly, the President of LCCI, Dr. Michael Olawale-Cole, said the MoU signing will unlock investment opportunities for both economies and will strengthen relationships between our two institutions.
He added that the partnership is historic and significant to the LCCI as it would strengthen the International Trade Relations with China.
However, Nigeria remains one of China’s largest trading partners in Africa.
