Chinese firms to import $8trn goods from Nigeria, others

By Vera Samuel Anyagafu

Premier of the State Council of the People’s Republic of China, Li Keqiang, had said that China will import $8 trillion worth of goods from Nigeria and other parts of the world in the next five years.

Speaking at the end of its annual meeting of the new champion, otherwise known as Summer Davos, in Dalian, China, Keqiang said the country would make $750 billion US dollars outbound investment within the same period.

“China is now ready to work with Nigeria and all countries to achieve inclusive growth in economic globalization and the new industrial revolution. In the coming five years, China is going to import 8 trillion US dollars worth of goods from the world and make 750 billion US dollars outbound investment, which will deliver massive benefits to the world including Nigeria.

“China is also committed to international cooperation in industrial capacity and equipment manufacturing, which will not only benefits China but also accelerates other developing countries’ industrialization,” he said.

“Although, global economy recovery remains weighed down by lack of growth drivers, structural imbalances are yet to be fundamentally addressed and risk of de-globalization hangs over the world economy.

“This new round of industrial revolution is expected to give a strong boost to economic growth to Nigeria and countries across the globe, as well as targeted at delivering massive benefits to all countries, including Nigeria, to bring about new and better hope for citizens,” he added.

The communiqué issued at the end of the meeting also reads in part: “China is also committed to international cooperation in industrial capacity and equipment manufacturing, which will not only benefit just China, but also accelerates other developing countries’ industrialization.”

The communiqué stated that promoting inclusive growth calls for upholding economic globalization, adding that all countries, including Nigeria, must adapt to and steer economic globalization to promote trade and investment, liberalization and facilitation.

The meeting with the theme, ‘Achieving Inclusive Growth in the fourth Industrial Revolution’, was attended by over 2,000 participants from over 80 countries including Nigeria.