The Federal Government has called on Nigerian businesses to participate in the 137th Canton Fair in China, scheduled for April 2025, to deepen economic relations and attract Chinese investments.
This follows the recent upgrade of Nigeria-China relations from a strategic to a comprehensive partnership. The appeal was made by Ambassador Bolaji Akinremi, Director of Economic Trade at the Federal Ministry of Foreign Affairs, during the Canton Fair Lagos Promotion Seminar organized by the Lagos Chamber of Commerce and Industry (LCCI) and the China Foreign Trade Centre Group (CFTC).
Ambassador Akinremi highlighted several benefits of attending the fair, including:
- Access to a global trading hub with diverse industries.
- Opportunities for market expansion and investment.
- Strengthening Nigeria-China economic relations.
- Facilitating networking and partnerships with international businesses.
- Promoting Nigeria's export potential and non-oil trade diversification.
He emphasized that Canton Fair upholds high trade standards, ensuring the exchange of genuine products and quality investments. He encouraged Nigerian businesses to seize this opportunity, stating, "Our participation will provide us with a platform to showcase Nigeria's export potential, attract Chinese investments, and encourage strong business partnerships."
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The Deputy Consul General of the Chinese Consulate in Lagos, Mr. Jin Mingyu, underscored the fair's significance as China's largest trade platform and a gateway for global business. He noted that Nigeria's total bilateral trade volume with China reached $21.88 billion in 2024, with China's imports from Nigeria increasing by 25.2% year-on-year.
Mingyu expressed confidence that the fair would foster stronger business collaborations, enabling Nigerian entrepreneurs to explore growth opportunities in China.
A Strategic Trade Collaboration
President of the Manufacturers Association of Nigeria (MAN), Mr. Francis Meshioye, described the Canton Fair as a symbol of economic cooperation that offers vast opportunities for Nigerian businesses. He emphasized its potential to enhance industrial development, drive innovation, and strengthen bilateral trade relations between the two nations.
The Federal Government reassured businesses of its support, urging participation in the fair as a step toward achieving Nigeria's broader trade and investment objectives.
