China’s trade with African countries hits $9.2 trn says Envoy

The Ambassador of the People’s Republic of China to Nigeria, Mr Cui Jianchun on Wednesday said trade between China and its Belt and Road Initiative (BRI) global Partners, Nigeria inclusive has risen to $1.35 trillion.

The Ambassador made this known in Abuja during a seminar organized in commemoration of the BRI Symphony played by China-Nigeria Orchestra at the Chinese Cultural Center, adding that trade with African Countries hit 1.35 trillion dollars in 2020.

Cui pointed that the importance of China’s BRI Initiative with Nigeria and other countries across the globe, has brought about developing strategies to promote the BRI initiative between Nigeria and China.

“The main essence of the BRI is about viable connectivity. First is about the policy coordination, second is about the facility connectivity.

“The third is about unimpeded trade, the fourth is about financial integration, and the last is about people to people bound. And I hope that everybody here today you could remember the five connectivity.

“There have been great achievements of BRI in the past eight years. Now we have 140 countries that have signed this document with the Chinese government, Nigeria is also part of the country.

“I also took part in the drafting of this document and I am very happy that Nigeria has signed this document in the year 2018.

“We have 140 countries plus 30 International Organizations that have signed this document. In the African continent, we have 46 countries, including the African Union that has signed this document.

“Since 2013, we have recorded 130 billion dollars investment. The third figure is about the trade, we have accomplished 9.2 trillion dollars in trade all over the world with the International partners.

“Nigerian young people are very keen about the e-commerce and I want to let you know that we have 22 countries have the e-commerce with China and I do believe that it can be done with Nigeria.

“Also last year, 2020, the trade with BRI partners is about 1.35 trillion US dollars. This also includes for COVID response, Economic Stability and the People’s livelihood.

“So trade is really important for BRI partners. We need Chinese products, we also need products from the BRI partners”, Cui said

Cui further disclosed that the Chinese Embassy in Abuja under his leadership has developed a strategy termed the “5GIST” as a means to promoting the future cooperation within the framework of the BRI between China and Nigeria.

“In this strategy, the 5GIST means 5 Goals, 5Is, 5Ss and 5Ts which is the China-Nigeria GDP Strategy. The GDP means Growth, Development and Progress.

“The first five Goals are; Political Support, Economic Cooperation, Military Collaboration, International Coordination and People to People Bond.

“The second Five Is are; first is about Infrastructure, second is ICT, third is about Industry; railway is key for the Nigerian people.

“Without industry we cannot get rich, we cannot get strong, we cannot create more jobs, we cannot create income. So, we believe that Industry in the Agriculture, manufacturing, how they can be implemented.

“The fourth is about investment in Agriculture, aquaculture, manufacturing, oil and gas. So I think we really need investments and how to attract Foreign Direct Investments.

“The third S are; on Security, we need structure, we need speed because we cannot be lagging behind in the 21st Century. We need Synergy and supervision.

“The Fourth T; are Thoughts, we need to exchange our thoughts on the government and Peoples level, we have Talents, Treasure, Technology and Tradition”, Cui said.