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On the opening day of the exhibition, the “China-Nigeria Capacity Cooperation and Trade Promotion Symposium” was also held. The forum had the theme of “Promoting Economic Growth through Sustainable Partnership” and was attended by about 200 professional merchants from China and Nigeria. During the event, African representatives and Chinese business representatives had in-depth discussions on industry development trends, injecting new vitality into China-Africa trade exchanges. Nigeria is China’s second-largest trading partner in Africa, the largest contracted project market and an important investment destination. In the first three quarters of 2023, bilateral trade between China and Nigeria was US$17.25 billion, exports to Nigeria were US$15.67 billion, and imports from Nigeria were US$1.58 billion, of which imports from Nigeria increased by 22.5% compared with the same period last year. China’s investment in Nigeria is mainly concentrated in the manufacturing industry, focusing on steel, automobiles, machinery, electrical appliances, daily necessities and other fields.
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The investment by enterprises in the Lekki Free Trade Zone and Ogun Guangdong Free Trade Zone exceeds 1 billion US dollars. Chinese companies also have a large number of contracted engineering projects in Nigeria, such as Port of Lekki, Dangote Refinery, Lagos Rail Mass Transit Blue Line, Lagos Airport, Lagos-Ibadan Railway, etc. This investment and contracting projects have promoted local economic and social development and made outstanding contributions to deepening bilateral economic and trade cooperation.
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The China-Africa (Nigeria) Capacity Cooperation Brand Exhibition is creating a new window for Chinese enterprises’ economic and trade cooperation with Africa, becoming an event platform for China-Africa docking and negotiation, and injecting new impetus into the high-quality development of China-Africa economic and trade cooperation in the new era.
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