NACCIMA hosts Chinese business delegation to deepen economic ties

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) hosted a delegation from Hunan Province, China, at the office of the Abuja Chamber of Commerce and Industry (ACCI) in a move aimed to bolster the trade relationship between Nigeria and China.

The 22-member delegation, led by the Director General of the Department of Commerce of Hunan Province, Shen Yumou, included government officials, business leaders, and representatives from the Bank of China. They were joined by Dr. Victor Ayemere, the NACCIMA Coordinator in China and Chairman of Zeenab Foods Limited.

At the meeting National President of NACCIMA, Dele Oye, who was represented by the ACCI President, Chief Emeka Obegolu, reaffirmed the chambers’ commitment to fostering sustainable economic ties and addressing the challenges faced by Nigerian exporters in the Chinese market.

Oye emphasised the importance of the current discussions as a pathway to increased trade opportunities and highlighted the need for dialogue to resolve the issues surrounding financial instruments critical to international trade.

“NACCIMA is poised to work closely with the Hunan delegation and relevant stakeholders to pave the way for a more inclusive trade agreement that benefits both Nigerian exporters and Chinese importers, and to support the establishment of Nigerian business presence in Hunan,” he added.

In his remark, Shen Yumou acknowledged the strength of the bilateral relationship and expressed a willingness to enhance cooperation as part of the broader China-Africa Initiative.

He also announced the upcoming China Africa Economic Trade Expo to be hosted in Nigeria in November 2024, promising further collaboration details to NACCIMA.

The meeting highlighted the need to expand the range of Nigerian agro commodities included on China’s protocol list, and the concerns regarding the issuance and acceptance of letters of credit between Nigerian and Chinese banks.

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