The organizers of the China Commodities Expo-Nigeria have announced that the event will strengthen trade partnerships between China and Nigeria, fostering future growth and collaboration.
Scheduled to take place from November 5-8, 2024, in Lagos, the expo is organized by Brightway International Exhibition in conjunction with the Trade Development Bureau of China’s Ministry of Commerce, with support from the Chinese Consulate in Lagos and Nigerian government entities.
According to the organizers, the expo will feature over 250 Chinese manufacturers and attract more than 5,000 buyers from Nigeria and neighboring countries looking for business opportunities.
Since 1971, the relationship between China and Nigeria has remained robust. Chinese customs data indicates that bilateral trade volume reached $23.9 billion in 2022, with China exporting $22.3 billion to Nigeria and importing $1.6 billion. In the first three quarters of 2023, bilateral trade was recorded at $17.25 billion, with exports to Nigeria totaling $15.67 billion and imports from Nigeria at $1.58 billion, representing a 22.5% increase in imports from Nigeria compared to the same period last year.
Additionally, investments exceeding $1.5 billion have been made by Chinese investors in the Lekki Free Trade Zone and Ogun-Guangdong Free Trade Zone, creating over 7,000 jobs.
At the recent 2024 Forum on China-Africa Cooperation Summit, leaders from both countries agreed to elevate their relationship to a comprehensive strategic partnership.
Muheez Ojulari, Chief Representative Officer of Brightway International Exhibition, noted that the expo has been held annually in Nigeria since 2007. With the backing of both Chinese and Nigerian governments and relevant departments, it has become a well-recognized local brand exhibition. He emphasized that the event serves as a vital link to enhance cooperation and development between China and Nigeria across various sectors.
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Ojulari explained that the expo will provide a platform for enterprises to explore trade and investment opportunities within the China-Africa market, featuring a special promotional session for local delegations and business representatives. This initiative aims to strengthen the bilateral trade relationship, drive job creation, reduce poverty, and stimulate significant economic growth.
He also highlighted the event’s potential to attract venture capital to support the innovative ideas of Nigeria’s youth. The China Commodities Expo-Nigeria presents opportunities for business growth and networking, allowing participants to connect with leading Chinese manufacturers, discover new suppliers, and seek venture capital for their innovative concepts.
Ojulari concluded by stating that the expo is set to collaborate with African partners to enhance China-Africa cooperation, forging a closer and more comprehensive economic and trade relationship.
