The President Abuja Chamber of Commerce and Industry (ACCI), Dr Al-Mujtaba Abubakar has said the China CANTON Fair has continued to create strategic networking opportunities to Nigerians particularly members of the Chamber, considering, the large number of stakeholders cutting across the 15 Trade Groups in the Chamber.
The President who was speaking during the virtual B2B CANTON Fair 2022 (China-Nigeria Trade Discussion) organized by ACCI encouraged all Nigerian businesses to optimize the opportunities this event offers, to grow, expand and consolidate their strategic business objectives.
“Nigeria, still highly import-dependent must take advantage of every opportunity of the fair to grow trade with one of the world’s fastest growing economies. I want to applaud the Consul General of the Peoples Republic of China in Lagos, through the commercial section, for giving ample opportunities to Nigerian participants to pitch their businesses and share their business plans/ proposals with their counterparts from China and local participants.”
The President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), John Udeagbala enjoined every participant to leverage on the opportunities embedded in the fair, attend the B2B meetings and the virtual exhibitions in order to learn the new technological advancement from this fair.
He said the virtual meeting was organised to promote trade relations between Nigeria and China adding that the Nigeria-China Trade Relations has existed for over 50 years and has birthed the establishment of several companies operating in Nigeria, created employment opportunities, increased total trade and financed major projects.
“The bilateral relations between both countries have helped to boost the growth of Small and Medium Enterprises in Nigeria, as evidenced by current statistics which shows that 20% of imports are from China. Still, trade relations between Nigeria and China can be further improved through intentional collaboration in other sectors of the economy. This can be achieved by ensuring mutual growth of both countries’ economies.”
He added that Nigeria has benefited immensely from the Chinese construction sector; also, technical support in the textile industry has had a favourable impact on trade and the economy. “Thus, it goes without saying that both countries have huge potential for investment cooperation, which is highly complementary, especially in commerce, agriculture, and solid minerals.
“Let me use this opportunity to express that our Association remains committed to improving the business relations between Nigeria and China to support our nation’s bid to diversify the economy, and as the voice of business in Nigeria, we seek for increase Foreign Direct Investment (FDI) from China to support the growth of our local industry for the global market. We believe that this is a veritable strategy to improve the trade relations and promote inclusive growth and development for both countries.”
The Director General ACCI, Victoria Akai in her closing remarks stated that ACCI members and other individuals via the Chamber’s network have participated successfully and beneficially at the previous CANTON Fairs, both physically and now virtually.
“More than 600 Nigerian companies and high net worth individuals have in recent time featured in the famous global trade events with 40% of them coming from the Chamber alone.”
She called on the organisers of the fair to give Nigerian businesses and investors all necessary assistance to network rightly for a successful business consummation.
ACCI, Media/Strategy Officer