As part of efforts to strengthen the Nigeria and China ties, the Lagos Chamber of Commerce and Industry (LCCI) played host to a twenty-person delegation from the China Council for the Promotion of International Trade (CCPIT) and Guangzhou Chamber of Commerce. The meeting, held at the Commerce House in Lagos, aimed to reinforce economic and trade ties between the two countries.
Mr. Yang Yong, President of CCPIT, led the delegation and commended the entrepreneurial spirit of Nigerians. He highlighted Nigeria’s significance as a major trading partner for Guangzhou, constituting approximately 30% of the city’s trade with Africa. Mr. Yang expressed the readiness of the Guangzhou Chamber of Commerce to collaborate with LCCI, emphasizing the potential for increased trade volume between both nations.
Asiwaju Dr. Michael Olawale-Cole CON, President of LCCI, outlined key investment opportunities in Nigeria, including agriculture, housing, transportation, and renewable energy. He emphasized Nigeria’s openness and readiness for investment, reiterating LCCI’s commitment to supporting aspiring investors.
The meeting served as a platform for both parties to:
Reaffirm their joint commitment to advancing trade, industrial, and other ties between China and Nigeria.
Foster friendships and understanding between the business communities of Guangzhou and Lagos.
Promote cooperation in trade, investment, technology transfer, services, and industry.
Following the productive discussions, an agreement was reached to sign a Memorandum of Understanding (MoU) between LCCI, CCPIT, and the Guangzhou Chamber of Commerce. The MoU is expected to facilitate various collaborative activities, including trade missions, technical training, business-to-business (B2B) sessions, and ongoing engagement to strengthen economic and trade relations between China and Nigeria.
